If you get a regular or one-off payment from a trust you need to tell us about it as it may affect your benefit.
What is this?
Having a trust may or may not affect your benefit and there are a number of things we need to look at so we can find this out. You need to contact us so we can start the process. We’ll ask you to fill out a trust questionnaire and there’s also quite a bit of information we’ll need you to show us.
Here’s what you need to get together if possible:
- trust financial statements or details of income and expenses
- latest rates notice for any properties owned by the trust
- latest trust portfolio investment market valuation report and portfolio income report for the last 12 months
- details of any other trust investments or income eg term deposits
- personal tax summaries and returns.
Generally, payments from a trust will be personal income for benefit purposes.
If you need more information or want to discuss this in more detail contact us