Help re :money from Will

margaretclare

Savvy_Sue wrote: »

Whether or not mum decides to pay off the mortgage, now is the time to look at whether this home is 'fit for purpose' for the foreseeable future and beyond, and if not to do something about it!

A really well laid out bathroom and kitchen will help mum stay independent, but if the house is basically a nightmare for anyone with mobility problems that can't be sorted, then seriously considering a move would be a good plan.

I completely agree with this. It's what DH and I have been doing over the last few years, with a view to greater convenience, comfort and ease of use in the future.

firesidemaid

if it hasn't been mentioned already, then the OP's mum will also be saving the mortgage interest every month.

i don't know what other income she has, but she can earn up to approx. 10k a year, including interest from savings, without paying income tax.

after paying off the mortgage, she will be left with 28k.

after having a holiday and installing a well-deisgned kitchen and bathroom (?room for a toilet/shower downstairs), she will probably be left with 15k.

it won't be long before she is down to 10k and may be entitled to apply for benefits again if her income is sufficiently low enough.

bing0

Oldernotwiser wrote: »

Presumably bing0 is part of the family who'll be receiving some of this money, so no wonder s/he wants to find ways in which her mother can commit fraud!

mother rang benefits and told them about ALL the money.....
they said fine not a problem,you are STILL entitled to claim for everything.Thanks for all your opinions very interesting !

EdInvestor

bing0 wrote: »

mother rang benefits and told them about ALL the money.....
they said fine not a problem,you are STILL entitled to claim for everything.

But for how long?

EdInvestor

anmarj wrote: »

if she has Pension Credit you need to find out if she has assessed income period set, if so and was it set from her being 65 then it does not need to be declared until her next review, only then will she have to declare what she has. If she does not, she needs to find out if she should of had one set. if for some reason she cannot get an AIP then she would have to declare the money, to me kitchen bathroom paying mortgage under Pension credit is generally acceptable, if she gave money away then that CAN be classed as deprevation but with that amount she may not be entitled to Pension Credit anyway.

If she does not delcare and then found out, she would have to pay back the money and only would it be Pension Credit but if she gets housing and council tax all that would have to be paid back. Information IS passed between departments ie Inland Revenue and Pension Credit for example, so it would be picked up. She is far better to be up front and delcare and see where the situation takes her. She is doing herself no favours by trying to hide it.

You had useful in-house guidance at the beginning of the thread.

bing0

EdInvestor wrote: »

You had useful in-house guidance at the beginning of the thread.

thankyou,you are dead right !

she has been told her situation will be reviewed in 2012.

bing0

EdInvestor wrote: »

But for how long?

till 2012,thanks

seven-day-weekend

Glad your mother 'came clean' and can enjoy her inheritance.

roseygrech

bing0 wrote: »

mother rang benefits and told them about ALL the money.....
they said fine not a problem,you are STILL entitled to claim for everything.Thanks for all your opinions very interesting !

I may be in the same situation in a few months time and I am interested to know exactly what proof they need of the amount and where it's come from? Would a bank statement showing receipt of the money into the account be sufficient? Or do they request more details of the whys and wherefors?