We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
Children's Savings affect Benefits?
MrsAnnie
Posts: 679 Forumite
Are children's savings, which are solely in children's name, classed as household income for income related benefits? And therefore need to be declared?
Thx Annie x
Thx Annie x
I have learned that success is to be measured not so much by the position that one has reached in life as by the obstacles which he ha
s had to overcome while trying to succeed. Booker T Washington
0
Comments
-
Yes they do. They are taken into account for means tested benefits."Our prime purpose in this life is to help others. And if you can't help them, at least don't hurt them." Dalai Lama0
-
Yes they do. They are taken into account for means tested benefits.
Oh dear
. Thanks for the reply I will have to phone up the benefits people today. I have learned that success is to be measured not so much by the position that one has reached in life as by the obstacles which he has had to overcome while trying to succeed. Booker T Washington
0 -
Are their accounts accessible by you? Can you get at the money? If so its countedBe Alert..........Britain needs lerts.0
-
paddedjohn wrote: »Are their accounts accessible by you? Can you get at the money? If so its counted
No. The saving are in Bonds solely in my children's names. My DDs (13 and 14) had to sign for them etc. , my signature was not asked for.
Even if it is not counted, should it be declared?I have learned that success is to be measured not so much by the position that one has reached in life as by the obstacles which he has had to overcome while trying to succeed. Booker T Washington
0 -
You should declare everything just so you are covered if it is picked up on later on, I'm pretty certain the kids savings won't be taken into account if they can't be accessed by you but I could be wrongBe Alert..........Britain needs lerts.0
-
Thank you paddedjohn
I have queried it with ESA and they said child saving in sole name was not taken into account since my name is not linked to the savings bond in any way.I have learned that success is to be measured not so much by the position that one has reached in life as by the obstacles which he has had to overcome while trying to succeed. Booker T Washington
0 -
I've just completed another very long means tested benefit form and it asked have any of my children got savings accounts with over £3,000? So I'm guessing that it's anything over this amount, just like it's £6,000 for me.
Ah just seen that your children have savings bonds, glad you got it sorted.0 -
I have also confirmed with the council tax support dept today that savings in just the children's name is not taken into account - which is a blessing.I have learned that success is to be measured not so much by the position that one has reached in life as by the obstacles which he has had to overcome while trying to succeed. Booker T Washington
0 -
Does anyone know if money in childrens child trust funds are counted for means tested benefits?0
-
CTF can't be gained access until 18 and belong to the child so id think not counted.Tomorrow is the most important thing in life0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 349.9K Banking & Borrowing
- 252.7K Reduce Debt & Boost Income
- 453K Spending & Discounts
- 242.8K Work, Benefits & Business
- 619.7K Mortgages, Homes & Bills
- 176.4K Life & Family
- 255.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 15.1K Coronavirus Support Boards