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Nicci_36
Frequent Contributor

36 Posts

Posted - 26 June 2022 :  11:23:34  Show Profile  Reply with Quote
Hi

I have been advised I am entitled the the cost of living payment from the government as I receive universal credit & I will be getting the first payment of 326 next month.

I am currently in a trust deed 2 months in.

I am just wondering if this something I need to make my trustee aware of & also will I have to pay this to them or with it being a cost of living payment am I allowed to keep?

Thanks

Kevin Mapstone
Trust Deed Expert



4111 Posts

Posted - 27 June 2022 :  09:21:04  Show Profile  Reply with Quote
You should always flag up any extra income you receive to your Trustee, just to be sure, however I suspect they won't expect you to pay those funds in to your Trust Deed.

I am sure there will be many on here who would be interested to know what they say, so would be great if you could ask them and let us know.

Recommended Partner & Trust Deed Expert - Ask me for help setting up a Scottish Trust Deed
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Nicci_36
Frequent Contributor

36 Posts

Posted - 27 June 2022 :  10:24:22  Show Profile  Reply with Quote
Thank you

I have just spoken to them & as it is a cost of living payment this is not required to be paid into my trust deed.

Hope this helps others wondering

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