Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • forgotmyname
    • By forgotmyname 14th Oct 16, 12:16 AM
    • 23,299Posts
    • 9,188Thanks
    forgotmyname
    Inheritence and benefits.
    • #1
    • 14th Oct 16, 12:16 AM
    Inheritence and benefits. 14th Oct 16 at 12:16 AM
    Preparing for some flack now after reading some similar threads..

    Mum is looking at appointing me with power of attorney, just in case, and curious on howto share the assets when she passes on.

    My sisters on ESA or JSA depends on her health. Mum worried that leaving half the estate to her will mean her benefits get stopped.

    Considering leaving a high % of the house to her and any funds/stocks etc to myself. Thinking that if she moves into the property then her ESA/JSA will continue? Sister currently lives in council housing.

    Will this work? (expecting flack, but it seems just the same as someone with a mortgage who loses their job but gets to keep the house)

    Thanks...

    Ready, Aim........... Fire
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
Page 2
    • Mersey
    • By Mersey 15th Oct 16, 1:03 PM
    • 1,244 Posts
    • 565 Thanks
    Mersey
    Savings over £6k do, yes.


    But not if eg you have £3k and it increases to £3.5k.


    It's just nonsense to imply this. It reminds me of some on here who suggested that Jobseekers should declare betting wins, reward points and cashback. It really would result in comedy queues out the door with JCP staff unable and unwilling to fill in a form for each £50 win at Newmarket or £10 scratch card win.


    Compliance checks: again if it went above £5.5k- yes, might happen.


    [Incidentally, 'Change of Circumstances' has a meaning in social security law. Most forms will usually list a dozen things that would be deemed a material change affecting their entitlement, from having a baby, savings going above £6,000 and so on. The Upper Tribunal has ruled on what is and isn't deemed a change, in the same way they have on 'Good Reason' re sanctions. It doesn't mean ANY change eg if your dog died so you have more spare cash, or you won a £1k tv etc. I'm sure you realise this - but the way you have posted could lead others to think they have to report any change in their circumstances which they do not]
    Last edited by Mersey; 15-10-2016 at 1:14 PM.
    Please be polite to OPs and remember this is a site for Claimants and Appellants to seek redress against their bank, ex-boss or retailer. If they wanted morality or the view of the IoD or Bank they'd ask them.
    • forgotmyname
    • By forgotmyname 15th Oct 16, 4:05 PM
    • 23,299 Posts
    • 9,188 Thanks
    forgotmyname
    My post about me inhertiting everything and to give her pocket money was to wind up a user whose post seems to have been removed.

    Yes mum is in her 60's and may live a long time yet, and i have told her to spend it all anyway, none of it will affect me. I dont need it and it will be below the tax threshhold anyway.

    But there is nothing stopping me buying her a car or paying for her holiday etc.

    As i was typing this question up i expected the pay your tax etc type posts and even got me thinking of whats acceptable and whats not. Its a minefield.
    She is currently applying for PIP and may end up in a wheelchair full time.

    So she can use the money to buy a property whether its a part ownership etc, but couild she do that whilst on benefits?

    Dad was only in his 60's also, ive had 2 mates pass away at 43 and 47. So you never really know whats around the corner.

    Mums views are that so many people get everything and do nothing to earn it, why should she give money to my sister when its going to be taken away essentially. Gets angry at the stories of immigrants claiming for children they dont have and sending a fortune home whilst getting everything from foodbanks etc.

    Its a minefield.
    Punctuation, Spelling and Grammar will be used sparingly. Due to rising costs of inflation.

    My contribution to MSE. Other contributions will only be used if they cost me nothing.

    Due to me being a tight git.
    • borkid
    • By borkid 15th Oct 16, 4:23 PM
    • 1,128 Posts
    • 2,057 Thanks
    borkid
    The latter is untrue. Family members can give gifts. Only capital over £6k can stop/reduce a means-tested benefit claim.

    .
    Originally posted by Mersey
    I don't think they meant all benefits would be lost just that they would be affected. I thought that if it was a regular sum being given it was taken into account for benefits but a gift which isn't regular wasn't. So giving someone £100 a month every month would be taken into consideration but a birthday present of £1200 wouldn't be ( as long as total savings were under £6000).
    • Mersey
    • By Mersey 15th Oct 16, 4:34 PM
    • 1,244 Posts
    • 565 Thanks
    Mersey

    And again you have to realise that your Mums assets can and will be used to pay for any care she needs so you might not inherit anything anyway.

    if you were to give her 'pocket money' she would committing benefit fraud as all money has to be declared for income based benefits.
    Originally posted by Londonsu

    True, borkid.


    It was the above I was responding to - as I thought it might worry the OP & others reading that assertion ["all money has to be declared"]. Otherwise the DWP would be overrun with paperwork if every £500 PPI payout was regarded as a change of circs or even fraud.
    Last edited by Mersey; 15-10-2016 at 4:37 PM.
    Please be polite to OPs and remember this is a site for Claimants and Appellants to seek redress against their bank, ex-boss or retailer. If they wanted morality or the view of the IoD or Bank they'd ask them.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

371Posts Today

2,186Users online

Martin's Twitter