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Hello all, Anyone here with knowledge of trusts and UC?

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18 hours 3 minutes ago #312652 by neptune1980
Hello all,

Anyone here with knowledge of trusts and UC? As I would most appreciate if anyone can answer my below questions please?

My mother has a House trust with two friends as trustees. Hiwever the two trustees do not want to do it anymore and my mum has asked if I can be a co-trustee with the Solicitor? I will also be a 50% beneficiary to her house/assests at the point of her passing when it will then go into a discretionary trust as stipulated in her will.
My questions are:

1) If she adds me as a co-trustee with the solicitor in the house trust will it affect my UC? I will not have access to the funds while in the house trust and she is still here.

2) Will I still need to declare this information to DWP either way if I become a co-trustee of her hoise trust? If so how? On a money, savings and investments declaration is there a box to tick for something like this? Or how do I declare it? Any links to any UC guidance on this?

3) I have a good understanding of the discretionary trust which my 50% will be put into on her passing which I will be a trutee with the solicitor. I will also be an executor of her will. I understand what needs to be clear in the writing of the discretionary trust as solicitor has explained this.

The solicitors advice is it doesnt matter if she leaves it in the house trust or takes it out but has advised to have it written in her will to have her assets immediately put into a discretionary trust with me as co-trustee with the solicitor. Not sure if thats good advice.

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7 hours 11 minutes ago #312662 by David
Hi neptune1980

You say that your mother's assets will go into the Trust in the event of her passing. So until that time the DWP will not be interested in your role in the trust.
You say that a solicitor is also involved in the Trust. So he/she should be the person you ask for advice on this subject.

David

Nothing on this board constitutes legal advice - always consult a professional about specific problems

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3 hours 2 minutes ago #312671 by denby
If you are on PIP you may be able to have a Vulnerable Person's Trust. If you were not a trustee of such a trust, ie you do not have free access to the money or assets, it may avoid messing up any means tested benefits you are on. [PIP of course would not be affected as it is not means tested]. Be sure your solicitor really has done their homework.
If your Mum were to have the solicitor as sole executor, yes it would cost money but so will it if they are co-executor and/or co trustee. It could avoid issues over you having control of assets, the solicitor should be checking all this out. The solicitor could still work with you to eg clear unwanted possessions after Mum's passing, without you being legally involved.
More questions for you to get the right answers to but they might prove critically important if you depend on means tested benefits.

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