I am on a TD. My partner who lives with me isn't. We have just had our 1st child. This means we are receiving Child Tax Credit and Child Benefit. My partner has also been awarded DLA on top of her existing Incapacity Benefit bringing our disposable income up to ยฃ490.
Will the IP take most of our disposable income away as we want to give our child a somewhat decent upbringing without living near to the breadline?
Hi selleck
I would be surprised if that was the case. Your partner obviously has their own expenses, plus additional children's costs etc to be taken into account.
Mark
Mark is not posting regularly in the Trust-deed.co.uk forum.
Hi selleck.
Congratulations on the arrival of your first child.
Your disposable income is what will be paid into your trust deed. Your partner has her own disposable income which should not be paid over.
If your partner has an increased income it would be fair to your creditors that she pays a greater proportion of the household expenditure. That might create an upward pressure on your contribution.
At the same time your costs will have increased, which should offset some or all of this change.
Best to bring your trustee up to date with all changes so no problems are stored up for later.
I didnt think there was such a thing as disposable income after having kids. Anyone who waits until they can afford kids to have them will never get round to it!!!
Congratz.
Paul
Trust deed completed Jan 2012,Trustee discharge Nov 2012.
A new dawn.
My partner is VERY concerned about her DLA. Since it's for her personal care and ability to get out and about she would be quite angry if the trustees were to take away most of her benefit. Her incapacity benefit is something she never minded about sharing the cost of living but her DLA...
Hi selleck.
DLA is paid to cover extra costs. Make sure the trust deed firm are aware of what these extra costs are.
Nobody is seeking to take away your partners DLA, but it is relevant to your total household income and expenditure.