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Seperation, marital home sold, equity, kids and UC
Comments
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poppy12345 said:themoomins said:Pretty sure children's savings are counted when it comes to benefits.
If the savings are in the childrens names no they are not. However, the mother "giving away" her money to her children and then continuing to claim means tested benefits is as advised, deprivation of capital.
Only if the money is in a Junior ISA or under £3000. If they put it in a Junior ISA I am pretty sure that defeats the object of what they are trying to achieve, eg, stuffing enough money away in the kid's names to bring below the savings threshold to claim UC. They may genuinely want to put £40k of just the mother's half of the equity away for the kids when they are 18 but I am not getting that feeling here.
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