Receiving inheritance money when you are on UC

Levatorani123

Short bit of background but can provide more if needed.

We receive full uncapped UC because I have a disability. We have around 3k in savings, however my partner is about to inherit around 10-14k. This is planned to go in our 3  childrens trust funds (Junior ISA) within about 2-3 days of receiving it.

Its possible but not certain she could have over 16k overall savings for a day or two but we will certainly have over 6k.

What is the situation regarding this? If it is only in there for a day does this count towards the universal credit limit? I have read online that as long as it is under 6k by the time the assessment period is over eg 26th  of the month then it is ok.

Is this the case? I want to make sure we are doing things correctly but obviously dont want to lose 2.3k UC for having money in the account for 2 days thats going to the kids.

Thanks.

Keep_pedalling

I would have thought transferring the inheritance to your children would be classed as deliberate deprivation of assets . 

Rubyroobs

As above I would have thought that giving money away like this would be classed as deprivation of assets and so UC could treat you as if you still had that money. If the money had been directed left to the children that would be different but doesn't seem to be the case here. 

Grumpy_chap

Levatorani123 said:

Short bit of background but can provide more if needed.

We receive full uncapped UC because I have a disability. We have around 3k in savings, however my partner is about to inherit around 10-14k. This is planned to go in our 3  childrens trust funds (Junior ISA) within about 2-3 days of receiving it.

Its possible but not certain she could have over 16k overall savings for a day or two but we will certainly have over 6k.

What is the situation regarding this? If it is only in there for a day does this count towards the universal credit limit? I have read online that as long as it is under 6k by the time the assessment period is over eg 26th  of the month then it is ok.

Is this the case? I want to make sure we are doing things correctly but obviously dont want to lose 2.3k UC for having money in the account for 2 days thats going to the kids.

Thanks.

Does the Will of the deceased stipulate your partner as the Beneficiary, or does the Will of the deceased stipulate your 3 children as the Beneficiaries?

Levatorani123

Grumpy_chap said:

Levatorani123 said:

Short bit of background but can provide more if needed.

We receive full uncapped UC because I have a disability. We have around 3k in savings, however my partner is about to inherit around 10-14k. This is planned to go in our 3  childrens trust funds (Junior ISA) within about 2-3 days of receiving it.

Its possible but not certain she could have over 16k overall savings for a day or two but we will certainly have over 6k.

What is the situation regarding this? If it is only in there for a day does this count towards the universal credit limit? I have read online that as long as it is under 6k by the time the assessment period is over eg 26th  of the month then it is ok.

Is this the case? I want to make sure we are doing things correctly but obviously dont want to lose 2.3k UC for having money in the account for 2 days thats going to the kids.

Thanks.

Does the Will of the deceased stipulate your partner as the Beneficiary, or does the Will of the deceased stipulate your 3 children as the Beneficiaries?

 My Partner.

 We were planning to do this anyway, as we had to use their child savings account money from a relative who previously had stipulated money for children to pay for food when I first became unwell.( longer story).

Caz3121

does your partner have any debts - cards or loans that could use some of the money to pay off?
paying debts is allowable expense for universal credit bringing the capital down but gifting the money to someone else would not be and would be still treated as having the money.

Devongardener

Levatorani123 said:

Grumpy_chap said:

Levatorani123 said:

Short bit of background but can provide more if needed.

We receive full uncapped UC because I have a disability. We have around 3k in savings, however my partner is about to inherit around 10-14k. This is planned to go in our 3  childrens trust funds (Junior ISA) within about 2-3 days of receiving it.

Its possible but not certain she could have over 16k overall savings for a day or two but we will certainly have over 6k.

What is the situation regarding this? If it is only in there for a day does this count towards the universal credit limit? I have read online that as long as it is under 6k by the time the assessment period is over eg 26th  of the month then it is ok.

Is this the case? I want to make sure we are doing things correctly but obviously dont want to lose 2.3k UC for having money in the account for 2 days thats going to the kids.

Thanks.

Does the Will of the deceased stipulate your partner as the Beneficiary, or does the Will of the deceased stipulate your 3 children as the Beneficiaries?

 My Partner.

 We were planning to do this anyway, as we had to use their child savings account money from a relative who previously had stipulated money for children to pay for food when I first became unwell.( longer story).

Do you mean that you previously withdrew funds from the children’s accounts yourself?  If so the accounts can’t be Junior ISAs because parents cannot access those funds, only the child once they reach 16.   If the accounts are accessible by you it will possibly be seen as deprivation of assets 

Levatorani123

Devongardener said:

Levatorani123 said:

Grumpy_chap said:

Levatorani123 said:

Short bit of background but can provide more if needed.

We receive full uncapped UC because I have a disability. We have around 3k in savings, however my partner is about to inherit around 10-14k. This is planned to go in our 3  childrens trust funds (Junior ISA) within about 2-3 days of receiving it.

Its possible but not certain she could have over 16k overall savings for a day or two but we will certainly have over 6k.

What is the situation regarding this? If it is only in there for a day does this count towards the universal credit limit? I have read online that as long as it is under 6k by the time the assessment period is over eg 26th  of the month then it is ok.

Is this the case? I want to make sure we are doing things correctly but obviously dont want to lose 2.3k UC for having money in the account for 2 days thats going to the kids.

Thanks.

Does the Will of the deceased stipulate your partner as the Beneficiary, or does the Will of the deceased stipulate your 3 children as the Beneficiaries?

 My Partner.

 We were planning to do this anyway, as we had to use their child savings account money from a relative who previously had stipulated money for children to pay for food when I first became unwell.( longer story).

Do you mean that you previously withdrew funds from the children’s accounts yourself?  If so the accounts can’t be Junior ISAs because parents cannot access those funds, only the child once they reach 16.   If the accounts are accessible by you it will possibly be seen as deprivation of assets 

Yes sorry let me explain. Their grandparent gave them  some money each.

We put them into what we thought were junior isas or similar, ( we took in their birth certs etc) but were accounts we could access, so must have been savings accounts. We  realised we could use them- and had to during a period earlier this year due to struggles with my condition. We now want to  open  proper junior isas and put the money taken into that to replenish it.

Thanks.

Levatorani123

Caz3121 said:

does your partner have any debts - cards or loans that could use some of the money to pay off?
paying debts is allowable expense for universal credit bringing the capital down but gifting the money to someone else would not be and would be still treated as having the money.

She doesnt but I do have debts we as a couple have incurred. Does this still count or does it have to be a debt in her name ?  Thanks.

Devongardener

Levatorani123 said:

Devongardener said:

Levatorani123 said:

Grumpy_chap said:

Levatorani123 said:

Short bit of background but can provide more if needed.

We receive full uncapped UC because I have a disability. We have around 3k in savings, however my partner is about to inherit around 10-14k. This is planned to go in our 3  childrens trust funds (Junior ISA) within about 2-3 days of receiving it.

Its possible but not certain she could have over 16k overall savings for a day or two but we will certainly have over 6k.

What is the situation regarding this? If it is only in there for a day does this count towards the universal credit limit? I have read online that as long as it is under 6k by the time the assessment period is over eg 26th  of the month then it is ok.

Is this the case? I want to make sure we are doing things correctly but obviously dont want to lose 2.3k UC for having money in the account for 2 days thats going to the kids.

Thanks.

Does the Will of the deceased stipulate your partner as the Beneficiary, or does the Will of the deceased stipulate your 3 children as the Beneficiaries?

 My Partner.

 We were planning to do this anyway, as we had to use their child savings account money from a relative who previously had stipulated money for children to pay for food when I first became unwell.( longer story).

Do you mean that you previously withdrew funds from the children’s accounts yourself?  If so the accounts can’t be Junior ISAs because parents cannot access those funds, only the child once they reach 16.   If the accounts are accessible by you it will possibly be seen as deprivation of assets 

Yes sorry let me explain. Their grandparent gave them  some money each.

We put them into what we thought were junior isas or similar, ( we took in their birth certs etc) but were accounts we could access, so must have been savings accounts. We  realised we could use them- and had to during a period earlier this year due to struggles with my condition. We now want to  open  proper junior isas and put the money taken into that to replenish it.

Thanks.

OK, hopefully you can open the ISAs before the inheritance is paid because it can take more than a few days.

KxMx

It would still almost certainly be viewed as deprevation of capital, because partner has inherited money via being named in a will, and is intending to give that money away to someone else not named in the will.

I think the debt would need to be in her name. 

Link to find a local welfare rights organisation:

https://advicefinder.turn2us.org.uk/