Inheriting so losing all benefits now - help!

dmg24

quatro wrote: »

And your comment is an insult to me. I'M NOT MOANING! or expecting you to pay anything towards me - can't you read?
I now have the answers to some queries I had - I KNOW benefits will stop.

I realise the money will help me - it just looked like any income would be a lot less when I first posted.

Thank God others have helped me and read my meaning properly - there are some intelligent people on here.

To be fair, your first post was a big old moan.

Titch89

ekkygirl wrote: »

It is possible to put the money into a trust fund which is administered by a solicitor. You would still have access to it and it would still be "your money" you can request some as oftennas you wish and still not have your benefits affected.
This loophole may be closed at some point but crazy as it sounds it is perfectly legal and in my job I use it all the time.

But don't you have to mention all trust fund things like this?

looby75

OP If you are still confused about how you can use the money without it being seen as deprivation of capital if you ever do have to go back on means tested benefits it might be a good idea to make an appointment at the CAB and ask to speak to one of their welfare rights advisor.

They will be able to explain what is considered "reasonable" expenditure and go through what proof you will need to keep for the future. My nan was fortunate to come into some money a few years before she died, and like you she was worried about how she was going to make ends meet, it was over the savings threshold but not large enough to live on for the rest of her life (sadly it would have been as she died a couple of years later) so she was a nervous wreck about spending it. But once she had a word with a lovely lady from the CAB it actually turned out to be a blessing. She was able to do some badly needed repairs to her house, not worry about putting her heating on and live comfortably.

Good luck and try to enjoy your inheritance.

[Deleted User]

Its a shame that threads like this can turn into slanging matches,after all this forum is about giving help/advice/support,NOT about judging people.It would be nice if we could keep it that way !

Edinburghlass_2

To the OP, you really need to consult an IFA who will see how you can best invest the money to give you a monthly income.

healy

quatro wrote: »

And your comment is an insult to me. I'M NOT MOANING! or expecting you to pay anything towards me - can't you read?
I now have the answers to some queries I had - I KNOW benefits will stop.

I realise the money will help me - it just looked like any income would be a lot less when I first posted.

Thank God others have helped me and read my meaning properly - there are some intelligent people on here.

You must admit that the tone of your original post did sound like you wanted to have your cake and eat it too. I notice you have now edited it but am not sure what has been removed/changed.

quatro

healy wrote: »

You must admit that the tone of your original post did sound like you wanted to have your cake and eat it too. I notice you have now edited it but am not sure what has been removed/changed.

No the tone was 'worried'. Worried about how to get a good return on the inheritance. This thread has been misunderstood.

I should have posted in the savings/investment forum - and like I said before I apologise!! I don't know how to handle windfalls.

I am very upset at how this thread has been perceived by some. Very.

looby - it sounds like I am in the same position as your nan, so I'm glad you understand. I am unwell so will have enough to last me the rest of my days I expect.

healy - I DONT want my cake and eat it - just wanted to know how things would be different thats all....there is so much animosity on here.

.....but thanks for the useful info from those who helped me with their advice, it is much appreciated.

PS edited out of respect for my mother....

Louise03

Sorry, but how can somebody reach nearly sixty yet be so "unworldly",
feeling panicky and worried about this inheritance, which surely has been expected for some times just seems bizarre.

If this is not a wind up it is most definately the finist example of the benefit minded culture this Government has created.

quatro

Louise - thank you for that insult. I admit I am unworldly in that I have never been bereaved of my mother before and the amount of money she had was a surprise to me, so I have not had experience of having to get the best rate of interest on a windfall before.

Why is it a wind up? I have had benefit since falling ill a few years ago - just thank god you aren't. Panic is part of the problems I have....

I refuse to explain myself any more.....

Clearly you were not brought up to respect and consider or understand other people. My family were.

Errata

I guess the bottom line is that you will shortly have capital and assets to the value of a third of a million pounds.

If you're near retirement age then you should get state retirement pension, and if you want to maximise your income perhaps you could consider downsizing, renting out a room in your house or taking in a lodger.