Stuart Wilson

Many thanks for this. I had read this and I think what it is saying is that the value of the Bare Trust when the young person turns 18 is NOT going to count as Family Income but any gain from it would be? This is what I'm asking to be conformed please. Many thanks

I set up a Bare Trust for my godson and his twin sister. They reach 18 soon and their father mentioned that they were concerned the value of the trusts would count for assessing amount of maintenance grant. My reading is that when they receive the trust or at least become 18 and able to claim the assets the value wouldn’t count as income though any interest or income from those assets would. Does that sound right?