My 7yr old son got pension after my husband's death. Will my IVA take it away?

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charlene416
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by charlene416 » Thu Jun 08, 2017 1:09 pm
Hi everyone,

Looking for a little advice as I am not sure about my current situation...

I am currently my 4th year of my IVA, I am a single mother to a child that is 7 years old. Just a couple of months ago my son's father suddenly passed away. He was a doctor and worked for the NHS and I have just found out that our son is entitled to receive an NHS pension/child maintenance monthly payout which is a considerable amount. And he may also be receiving a lump sum death benefit amount which hasn't been received yet.

My son is the named dependent on the claim for the NHS pension, but it is being sent to me and my bank account as I am the mother and guardian.

I am a little worried about the IVA because do I need to inform them of my son's new pension income?

I want to put the money away for him in his own savings account until he is 18. And only take out what I need for his monthly maintenance expenses.

Will the IVA want to take money from my son's pension? I am happy to pay any extra money I earn into my IVA as that is my own money....but this pension is for my son and his future. My son will no longer be getting any money from his father as he has passed away.
I don't think it is right that my son's money should be used to pay my own debts. I will pay my debts myself through my own money via the IVA, and I wish for my son's money to be kept separate.

Any advice here?? What shall I do?
Thanks in advance.
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Foggy
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by Foggy » Thu Jun 08, 2017 1:27 pm
If your son is the named recipient the IVA has no call on the money -- it is his, you are merely the trustee, as far as I am aware ... but wait to be corrected, if need be, by an industry expert.
redboxtree
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by redboxtree » Thu Jun 08, 2017 1:34 pm
I agree with Foggy but would suggest that you take legal advice before you contact them.

A lot will depend on how experienced the staff at the IVA company are.

You are effectively losing maintenance payments/have lost that income which will impact on the affordability of the IVA and by being seen to be taking money from your son's pension income that could be misinterpreted.

You will need to ensure that everything is legally "ringfenced" to protect your son.
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charlene416
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by charlene416 » Thu Jun 08, 2017 1:46 pm
@redboxtree

Thank you for your reply =)

Where would you suggest I go to get legal advice?

I just want to make sure my son's money is protected. I see what you mean about the money being misinterpreted...that's what I am afraid of. It is not my goal to take my son's money. It is for him and his future. I am merely the trustee.

Will wait on confirmation from an expert to see what they say too thank you.
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Lisa Thomas
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by Lisa Thomas » Thu Jun 08, 2017 2:14 pm
I agree with the others. I can recommend a specialist solicitor if you want to contact me.
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Michael Peoples
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by Michael Peoples » Thu Jun 08, 2017 2:19 pm
I agree with Redboxtree and I am sure that your IP will look to reach a fair accommodation and possibly take legal advice of their own. However, if you have now ceased receiving maintenance you will need to figure out how to address this shortfall and this can only be done from the pension. If you propose to withdraw from the pension funds the equivalent amount to what you received in maintenance and continue the IVA payments as normal I would think that was pretty fair.
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charlene416
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by charlene416 » Thu Jun 08, 2017 4:02 pm
Thanks, Michael

Yes, as I am no longer receiving monthly maintenance from my son's father, I just want to take out the equivalent amount from the pension that I was receiving before and I will continue to pay my IVA as normal from my own money.

Do you think it's best I go to the Citizen's Advice Bureau first before letting my IVA company know?
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charlene416
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by charlene416 » Thu Jun 08, 2017 4:10 pm
Lisa Thomas wrote:
I agree with the others. I can recommend a specialist solicitor if you want to contact me.


Thank you Lisa. I would like to speak to a specialist solicitor please let me know how I can contact you.

Thanks
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Lisa Thomas
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by Lisa Thomas » Fri Jun 09, 2017 8:50 am
Hi I'm not sure I am permitted to post my contact details direct on a post but if you look at my signature or click on the contact bar under my name this will take you to my website where you can obtain them...
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Michael Peoples
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by Michael Peoples » Fri Jun 09, 2017 1:14 pm
Good luck Charlene and I hope it works out. However it may be worth having a chat to your IP first to avoid the cost of a solicitor. If the IP agrees and you are happy then the IVA can just run the normal course.
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