Hello. Last year I had in my son's account which is in his name, 15.000 pounds. This money is his saved child maintenance over 4 years, plus some back payment from dla. I did not tell uc about this money as they say child maintenance is not taken into account. My question is is this true, as I fear if they look at this they will sanction me or worse, close my claim. I am extremely fearful of that. Please advise if I should tell them now. Also now 10.000 of that money is in a junior ISA. Look forward to your advice.
In general as far as savings are concerned the DWP differentiate between legal and beneficial ownership. The £10,000, as it is in an ISA is owned legally and beneficially by the child. The remaining £5000 is in the child's name so the DWP would have to prove it was not actually the child's. So I don't think the DWP can say that the capital is yours. But one thing you cannot do is transfer lump sums of your own money into a child's account with the express intent of reducing your savings. This is termed deprivation of capital.
David David
Nothing on this board constitutes legal advice - always consult a professional about specific problems
