We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Adoption allowance
Franced
Posts: 1 Newbie
I wonder if anyone can advise, my husband and I are in the process of adopting a sibling group of 3 children.
My husband is already stay at home and I intend to to take 12 months adoption leave so we can work as a team to help the children settle with us and give them the time they will need.
We are already preparing financially and understandably are expected to have a certain level of savings to cover household bills and family costs for those 12 months. I have done a family budget and have budgeted will need minimum savings of around 18k for this period, and potentially we may have around 22k when I take my leave, this will cover my year off work.
My question is, will my savings mean that I dont qualify for adoption allowance for the 33 weeks?
Is there any means testing on the allowance. For the period Im off work I will have no other income.
My husband and I have no experience of ever claiming any benefits so not really sure how it all works and if the savings will impact on the adoption allowance it will mean I cant take as much time off if our savings will not stretch as far.
Any experience/ advice welcome please.
My husband is already stay at home and I intend to to take 12 months adoption leave so we can work as a team to help the children settle with us and give them the time they will need.
We are already preparing financially and understandably are expected to have a certain level of savings to cover household bills and family costs for those 12 months. I have done a family budget and have budgeted will need minimum savings of around 18k for this period, and potentially we may have around 22k when I take my leave, this will cover my year off work.
My question is, will my savings mean that I dont qualify for adoption allowance for the 33 weeks?
Is there any means testing on the allowance. For the period Im off work I will have no other income.
My husband and I have no experience of ever claiming any benefits so not really sure how it all works and if the savings will impact on the adoption allowance it will mean I cant take as much time off if our savings will not stretch as far.
Any experience/ advice welcome please.
0
Comments
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards