Need help with dealing with inheritence..

Kimitatsu

No one is trying to judge you I think we are all just a bit confused as to why it is disrupting

You will have to declare the flat and the money - if you dont you are comitting fraud. You should be able to stay in your house, but will no longer get housing benefit or LHA for it, and because you will have assets of more than £16,000 will not be entitled to means tested benefits such as JSA, IS, free school meals etc.

You will still be entitled to CTC as long as you are not getting more than £300 a year in interest from the money (after that it goes on a sliding scale) and possibly WTC when you start work and your career gets going. CB you will still be in receipt of as that is available to all.

Does that help a bit better now?

fasteddy13

Thank you so much.. Yes it does... Seems I had a bit of poor and scary advice.. Was told I would have to give up my council place, possibly move to a different area, change schools for my kids etc... Cant even begin to explain how hard it has been to get to where I am now, just worried about my kids schools, no way I could afford to buy a place in this area..
Thanks again.. Will do what I can to make the very best of this for my kids..
Simon..

McKneff

fasteddy13 wrote: »

Thank you so much.. Yes it does... Seems I had a bit of poor and scary advice.. Was told I would have to give up my council place, possibly move to a different area, change schools for my kids etc... Cant even begin to explain how hard it has been to get to where I am now, just worried about my kids schools, no way I could afford to buy a place in this area..
Thanks again.. Will do what I can to make the very best of this for my kids..
Simon..

Sorry if i offended you but i did say (and i really was trying to help)
that you probably didnt even realise that it could be fraud, so now you know.
I hope it wasnt a 'friend' who told you you would have to move becaus they were talking rubbish.

I wish you well.

Kimitatsu

Ah makes a bit more sense now

When the probate has gone through you will need to register the property that you want to sell as empty with that local council otherwise you will be liable for council tax on that property too! You can get a 6 month dispensation from paying council tax on an empty property so its worth the phone call.

The deprivation of assets rule is where someone willfully puts their money out of reach - such as into trust for their children whilst claiming means tested benefits. It can also be deemed if you spent all of your money in a short space of time on luxury holidays and a fantastic car to get your assets down to less than £6000 in order to claim means tested benefits.

For the purpose of the DWP you have the money and so should use that money to provide for you and your children so as not to be on benefits. You will not have to move house nor move your childrens school.

Enjoy the money and the peace it will bring you

fasteddy13

Cant thank you guys enough.. I will stop worrying now and get on with it.. It was a 'friend' who advised me, but as he did not really seemed to be too sure of what he was saying, well, that's why I came here!! Glad I did...
Lots of gratitude..
Simon..

Paparika

They only people that can tell you are the benefits agency,

But there are a few people on here that are clued up and work there themselves,

there are one or two armchair experts, but majority do know what they are talking about on here.

yes you'll loose your benefits but i am pretty sure you keep your council home.

Enjoy the money and have a great Christmas with the kids :T

Oldernotwiser

You could use the money to buy the council house you are already living in which would mean that you didn't have to claim HB but would still have an asset.

seven-day-weekend

You will not have to give up your Council home, even if you decide not to buy it (although buying it would be a sensible thing to do).

You can either sell or rent out the flat.

All your assets (flat, money and any income you may get from the flat) will have to be declared. You will lose your means-tested benefits, but you will either have a lump sum to live on (if you sell the flat) or an income (if you rent it out).

I repeat, you will not have to give up your Council home, but will have to pay the rent and Council Tax yourself.

McKneff

Hey Simon, i never thought about you actually buying your council house
now that really is a good idea, suggest you enquire, I have never regretted buying mine, 30 years ago, just before the right to buy came in.

Worth a look and something to leave for your children in hopefully lots of years time.

[Deleted User]

fasteddy13 wrote: »

Cant thank you guys enough.. I will stop worrying now and get on with it.. It was a 'friend' who advised me, but as he did not really seemed to be too sure of what he was saying, well, that's why I came here!! Glad I did...
Lots of gratitude..
Simon..

It may help you to sit down with someone to discuss this in detail,could I suggest your local CAB?
good luck