Can my brother denounce inheritance so we don't have to pay debt...?

seven-day-weekend

So you intend paying off your debt (mortgage) with the inheritance, but think your brother should pay for his 'through his own graft'?

Words completely fail me. I don't think I had better say any more on this discussion.

Oldernotwiser

oldMcDonald wrote: »

I think it is highly possible that Oldernotwiser has hit the proverbial nail on its head!



Your brother would have a third share in the house in name, or would he be giving up this part of his inheritance also? If he keeps his share of the house it would be capital and would affect his benefits. If he gets a third of rent on the house he would also be declairing this 'drip - feed' money I presume?

He can't "give up" his inheritance to claimmeans tested benefits, it's known as Deprivation of Capital and he would be assessed as if he still had the money.

adouglasmhor

In my opinion, it is nothing short of conspiracy to defraud that you and your brothers are planning. No different from thieves. If his share of the moveable estate won't cover his debts, maybe you and your other brother should use your share to buy him out of the house?

But you are in my opinion conspring to seal from your brother's creditors and possibly from the state (and that means us the public) as well. Shame on you.

robpw2

lombrozo wrote: »

I plan to do what my father would have wanted, as does my other brother, to keep the house (our family home) for many years to use as a safe house. In the meantime we'd rent it out and split the proceeds to pay off our existing mortgage (my 'other' brother and I have our own house we bought together), we'd give our older brother his share of the rent to live off.

By the way, this is what our older brother wants, he WANTS to denounce the will, and he WANTS us to drip feed him. He sees the logic in our plan and is happy for us to control his share.

My older brother doesn't know how to budget, he bought lots of useless ©rap and now, generally lives off the state.

surely he doesnt need to denounce the will in order for you to help him control it
he gets his 50k etc and asks one of you to invest it for him ?

oldMcDonald

Oldernotwiser wrote: »

He can't "give up" his inheritance to claimmeans tested benefits, it's known as Deprivation of Capital and he would be assessed as if he still had the money.

Good.

TBH, I think this thread should have been titled ' How can my brother continue to claim benefits whilst still getting his share of an inheritance and not paying his debts?'.

isitenough

The OP has amazed me. We have debts, through bad spending (and not on lavish items either) and understand it has to be paid back. My husband is definately a hard grafter and it's a case of 1 step forward 2 steps back for us (including redundencies!). But to say I wouldn't be entitled to my inheritence from my parents is plain unbelievable! Glad my sister is not like you!

How your brother spends the money that will be left to him is his business. End of. Surely if it pays his debts off that is a good thing? Maybe speak to him about managing money if you're that worried he'll just go into debt again. I know for a fact we wouldn't if the opportunity came up to pay if off.

robpw2

oldMcDonald wrote: »

Good.

TBH, I think this thread should have been titled ' How can my brother continue to claim benefits whilst still getting his share of an inheritance and not paying his debts?'.

adouglasmhor wrote: »

In my opinion, it is nothing short of conspiracy to defraud that you and your brothers are planning. No different from thieves. If his share of the moveable estate won't cover his debts, maybe you and your other brother should use your share to buy him out of the house?

But you are in my opinion conspring to seal from your brother's creditors and possibly from the state (and that means us the public) as well. Shame on you.

Oldernotwiser wrote: »

He can't "give up" his inheritance to claimmeans tested benefits, it's known as Deprivation of Capital and he would be assessed as if he still had the money.

I m beggining to think your all correct in your assumptions and its a real shame if that is the case

Person_one

I can't think of many better ways for an inheritance to be spent than paying off crippling debts and setting someone free to start again.

If it doesn't work that way and he wastes it all again then, hey, that's life. You're all adults and you can't control the actions and choices of other adults no matter how much you disapprove. Feel free to walk away from your brother and leave him to it.

As for keeping your dad's house as a 'safe house', er, what? Are you in some kind of dangerous profession? Undercover with the m*fia? Or do you just want the rental income shared 50/50 and leaving your brother out? You will have to pay CGT on that house eventually you know.

paddy's_mum

For the OP to claim that she doesn't know who the executors are is enough to convince me that smoke and mirrors is going on!

OP - I'm normally the most helpful soul you could ever meet. I don't believe there is one scrap of innocent bewilderment in this case.

I suggest that the three of you spend just a little of that handsome inheritance getting good legal advice before you all find yourselves facing some very worrying demands from the authorities.

robpw2

paddy's_mum wrote: »

For the OP to claim that she doesn't know who the executors are is enough to convince me that smoke and mirrors is going on!

OP - I'm normally the most helpful soul you could ever meet. I don't believe there is one scrap of innocent bewilderment in this case.

I suggest that the three of you spend just a little of that handsome inheritance getting good legal advice before you all find yourselves facing some very worrying demands from the authorities.

or worse a spell in prison