Discretionary trust and UC

devongal42

My dad past away in February this year and left me some money in a discretionary trust. I had to apply for UC in July.
We haven't started probate yet, blocks along the way but should I be telling UC about the trust now or wait until probate is done? And will it affect my UC? My sister and I are trustees of the trust so I can't take money out without my sister agreeing and I know it will probably exceed the limit but he left it to us to help with the children and paying for uni and stuff. Any help appreciated,  thankyou

HillStreetBlues

I think you need to take some professional advice.
As I understand it the money in the Trust isn't yours, it belongs to the trust so isn't your capital to declare 

Keep_pedalling

Discretionary trusts can be useful where they are set up for a for a vulnerable adult or involves very large sums of money, but if you don’t have a physical or mental disability then you are going to find out that this trust is likely to be expensive to manage and is subject to some eye watering rates of taxation on any income it generates.

You and your sister should take professional advice.