Keeping sons money

This comment isn't intended to be a criticism of you - I know you have done your best. This comment is intended to be purely about the future and where you go from here. It is meant kindly.

You are creating a financial mess for yourself and your son. His PIP is money for his needs which you are his appointee for (I assume). You are spending some of your own money on his needs so then saying we'll it's not simply his money ....

You need to separate the two things. Imagine you were told today that in 12 months your son's finances and your behaviour as appointee are being audited. What would you do differently?

Whether that money hits an account in your name or your son's (which I think you would need power of attorney from the court of protection to manage so is perhaps not feasible at this time) it needs to be kept separate and managed appropriately.

You need to be confident that if the authorities ask you "can you show me how you, as your son's appointee, have managed his pip. You can reply "Yes - here is the account his pip goes into. Here is what he has spent it on (records/book/budgeting app).

Under your current system if a day service/ social worker/anonymous tip off accuses you of financial exploitation and you are asked to demonstrate how your son's PIP is being used what are you going yo be able to show them to demonstrate that your son is not being exploited?

You must also remember that you are managing the money on behalf of your son - and he should be included/his wishes paramount in any decisions. You say he might work so he has a good degree of capacity. You should help him manage his money- not take over. So if he wishes to buy a holiday or a computer and you would prefer him to save his money you need to discuss it and try to help him see the consequences of his decision but an adult has the right to make a bad or risky decision.

I'm surprised you could afford to use your own money to pay for his needs, while saving his dla if you don't work yourself due to his needs, you definitely should have been claiming carers of you haven't been able to work OP

you could be charging him rent now so it would be legitimate to be putting some of this money into your account. Also anything he has needed in the past. I would get proper advice though if you are worried about keeping him money secure for the future and he is not able to manage his own money.

Unfortunately you hear of cases of people scrimping and saving up their benefits, only to then fall foul of the savings rule. So I would keep that in mind

You seem to have completely erased fathers.

Also, in this circumstance OP is hopeful her DS will be employed, the need for a live in carer is probably unrealistic.

You should claim carers allowance in your name
It is also a gateway to other help & benefits.

He should claim universal credit in his own name, even if he doesn't receive the money. Because the National Insurance "stamps" go towards state pension & other benefits

I guess op wants to ensure his life is easier when she isn't around and will need a lot more support

But instead the rules insist you spend now rather than save for when you know you will need it - well if we had good care for disabled people it wouldn't be a problem but we don't . So they could spend it now easily , keep getting the credit , and then when the mother dies and the child needs someone to live in with them they will get someone once a day to wash their face . It would end up costing the state as much or more over the child's life but the state dictates how you spend

It's your savings OP - you could only save that PIP because of your work and actions - save it somehow and write the will accordingly

Pip is for the extra costs that go alongside a disability. I admire you saving it, but it's there to make his life easier.

There isn't anything noble about refusing to claim carers. You're missing out on extra money that also go towards making life easier. How are you coping working part time and not claiming top up benefits?

Agree. If he was never going to be able to work due to his disability, then fair enough. But op has said he will be getting a job. Therefore, he should seek employment.

I don't know your sons disability.
Please contact one of the disability organisations such as Mencap, Scope Autistic Society or whatever is best related to his disability.
They will be able to best advice you on trusts, wills, law etc.
I know several local organisations often have lawyers come and give talks with regard to savings, wills and planning for the future.

@izimbra

If he's 18 he's entitled to claim UC under 'limited capability for work or work related activity' if he's not in work or education.

It's not that simple. You have to be assessed to be in the LCWRA group. OP has already expressed that work will be a factor in the future so he may not actually be considered unfit for work.

So really the money has been spent but you've also saved alongside it?

Keep the money in your name because there have been costs previous to him turning 18.

If he's 18 he's entitled to claim UC under 'limited capability for work or work related activity' if he's not in work or education.

Except his 6K in savings means he's not.

If he had £5999 in savings he'd be entitled to roughly £600 a month in UC. Plus his PIP. PIP isn't means tested.

When I was saving this for him I had no idea about the rules of UC. We've been subsidising his financial needs as his parents. It's not quite as black and white as perhaps you're seeing it. I do value all advice and opinion though so thank you.

I hadn't consider that at all, I wouldn't put the money in his name I would just keep it and use as and when you see fit. That could be for anything he needs, or even wants.

Also be aware that he’d have to declare anything over £6K savings to UC, and his benefits would be reduced accordingly.

These are your savings because you spent your own money on your son. I would put it into something like premium bonds or a separate account and I would explain to my other children why that was his money. I think you need to write a will if you want to keep that separate as well.

Just be really careful OP, there was an elderly man in my area arrested and charged for claiming benefits while having over 30k in savings. The last thing you want is to get your son in trouble for claiming while having large savings. (16k is alot of money for someone to have while claiming benefits)

The amount I've saved at this point could easily get gobbled up if he's unable to get work for a period of time

Work? Why are you managing the money for him if he is likely to able to work? Let him start doing it. He is never going to learn this skill of you don't allow him the chance. Start by having his money paid into his account and take X amount from him leaving him the rest. See what happens. If he spends it all, he spends it all, you can't control his money because you don't like what he does with it any more than you can for any adult DC

I misunderstood your OP as him never being able to work due to his disabilities when you mentioned the UC - sorry.

Presumably you've been subsidising his living expenses yourself , you could have been using all his pip so it's not strictly his money. That could have gone into the family pot and it could be the extra to your salary that's been saved. So I can't see it as fraud or his really . However as you choose to call it his, it's good to have it earmarked for the future, for if you aren't around etc or if he needs something. Talk to the family and maybe put it in trust

Ok, in which case maybe you can think of it as the PIP has been spent on the care costs and that this money is a fund you have saved which you will use if and when he needs help.

I wouldn't be setting up a trust for the amount of money you are talking about it's not worth it.