house left in will

blackadders_2

hi there im currently on incapacity benefit and getting house and council tax benefits. my mother has recently passed away and i will b getting left a 33% stake in 1 home (worth £20,000) and a 50% stake in another home worth about the same! nothing has been passed over as yet but when it does do i lose all benefits without the homes being sold? i really could do with lots off advice on the matter of which is best way too deal with it thnx

sunnyone

blackadders wrote: »

hi there im currently on incapacity benefit and getting house and council tax benefits. my mother has recently passed away and i will b getting left a 33% stake in 1 home (worth £20,000) and a 50% stake in another home worth about the same! nothing has been passed over as yet but when it does do i lose all benefits without the homes being sold? i really could do with lots off advice on the matter of which is best way too deal with it thnx

Lucky you on your inheritance and condolenses on the loss of your mother.

Your incapacity should be safe and the money that your mother has left you will more than comfortably pay for your house and council tax with a few treats too.

blackadders_2

sunnyone wrote: »

Lucky you on your inheritance and condolenses on the loss of your mother.

Your incapacity should be safe and the money that your mother has left you will more than comfortably pay for your house and council tax with a few treats too.

would it b possiable to keep a house and rent out id only get 50% of rent per mth say £200 how would that work ???

[Deleted User]

it would be treated as income

dmg24

woodbine wrote: »

it would be treated as income

Plus your interest in the property would be treated as capital.

blackadders_2

then i would lose all benefits? think am looking 4 a if i were in ur shoes m8 i do it this way etc.... no what i mean! sorry i havent a clue how the system works

sunnyone

blackadders wrote: »

then i would lose all benefits? think am looking 4 a if i were in ur shoes m8 i do it this way etc.... no what i mean! sorry i havent a clue how the system works

As I have said you IB is safe and you will have more than enough money to live on and have a few treats without benefits, you are losing nothing but gaining independance from the benefit rules.

blackadders_2

sunnyone wrote: »

As I have said you IB is safe and you will have more than enough money to live on and have a few treats without benefits, you are losing nothing but gaining independance from the benefit rules.

so what u r saying is i get my IB fortnighty still but lose the housing and council tax benefits????

sunnyone

blackadders wrote: »

so what u r saying is i get my IB fortnighty still but lose the housing and council tax benefits????

Yes, you can now pay your own houseing and council tax costs because you have a large inheritance to fund your life and as I said before you can have a much better life now you have your own money.

blackadders_2

sunnyone wrote: »

Yes, you can now pay your own houseing and council tax costs because you have a large inheritance to fund your life and as I said before you can have a much better life now you have your own money.

that info is based on me selling all shares in the homes??? i wud hav £40,000 and they wud still pay me my IB??? i wud prefer to keep 1 home to rent out being only 50% share but how wud that affect me in detail if u can plz

dookar

It's very, vry complicated because you do not own either property outright. It's perfectly possible that the capital can be disregarded and your current benefits would remain intact.

However, as soon as you begin to derive an income from the properties this will taken into account.

In either case, IB would remain unaffected