Deceased mother didn't declare all her savings!

Mojisola

diolch wrote: »

You are not wasting money from the estate, the executor cannot charge for doing the job, unless he/she is a professional person - solicitor or bank manager who was appointed.

A non-professional executor can charge for expenses.

diolch

Mojisola wrote: »

A non-professional executor can charge for expenses.

That is correct but they are limited to being reasonable. Telephone, postage, printer ink, travel costs (40p per mile), accomodation if needed when away working on the estate and general sundry expenses.

Which is a lot different than the £250+ per hour plus all expenses charged by a professional. One trip there and back for one meeting could be charged as 15 hours - including all travelling time @ £250 = £3750 + costs £315 = £4065

The estate I am sorting out is 300 miles away, which requires me to stay over (£75 per night) + travel costs of £240 for each visit. Total £315

Quite a bit different!!!

Beltup

I'm still not getting all the answers here folks, so can I put some specific questions to you?

Later this week when I get to sit down with the other beneficiaries we should have a lot, but not all of the paperwork to hand.

In the meantine the following questions have been asked of me.

1. If the worst case scenario was that mum had not declared all her savings and had significantly exceeded the threshold from day one would it then be a simple matter of determining what the government pension was at that time, take account of any increases and deduct that figure from monies received if pension credit was paid, to give a return figure?

2. Should this be the case is interest calculated for the duration of the overpayments or from the point at which they are found to be irregular? I.e. is interest backdated?

3. Whilst i'm sure the DWP would have requested notification of any changes to mums financial status we are not aware of any formal meetings or contact to re-assess and discuss her position. Is this normal?

4. Thus far we have asked the bank how far back they keep statements for and could not get a definitive reply over the counter. We'll be asking again tomorrow but whats the norm?

5. An uncle has spoken of some form of bond that could not be touched until it matured. Would this, as untouchable money, have been considered savings if it couldn't be drawn on to assist daily living?

allen35

Beltup wrote: »

I'm still not getting all the answers here folks, so can I put some specific questions to you?

Later this week when I get to sit down with the other beneficiaries we should have a lot, but not all of the paperwork to hand.

In the meantine the following questions have been asked of me.

1. If the worst case scenario was that mum had not declared all her savings and had significantly exceeded the threshold from day one would it then be a simple matter of determining what the government pension was at that time, take account of any increases and deduct that figure from monies received if pension credit was paid, to give a return figure?

2. Should this be the case is interest calculated for the duration of the overpayments or from the point at which they are found to be irregular? I.e. is interest backdated?

3. Whilst i'm sure the DWP would have requested notification of any changes to mums financial status we are not aware of any formal meetings or contact to re-assess and discuss her position. Is this normal?

4. Thus far we have asked the bank how far back they keep statements for and could not get a definitive reply over the counter. We'll be asking again tomorrow but whats the norm?

5. An uncle has spoken of some form of bond that could not be touched until it matured. Would this, as untouchable money, have been considered savings if it couldn't be drawn on to assist daily living?

1) Pre 2009 the threshold was £6,000 and anything above this would of been deducted £1 for every £500 above this limit. From 2009 the threshold was raised to £10,000. Your mum's state retirement pension and Attendance Allowance will be unaffected so only payments of Pension Credit Guarantee and Council Tax Benefit. If as stated no-one was receiving Carers Allowance for your mum and if she lived alone do ask the question if she was in receipt of the severe disbility premium(SDP).

2) I have never known DWP to add interest to overpayments of benefit.

3) Unfortunately this is normal and they may have only asked once when first claiming but it is made clear in one form or other about savings, once again ignorance of the rules is not an excuse that can be used.

4) Not quite sure on this one but if you reach a point where savings were below £6,000 pre 2009 then that should be suffice. If your mum was saving a large chunk of her savings then i wouldn't expect to go back too further than this as her weekly income could of been £257.65 per week.

5) Bonds are classed as capital for benefit purposes just like life insurance policies are classed as capital, the only capital that tends to be ignored is the home.


If your mum was aged 65 and over she may well have been entitled to Pension Credit Savings, once again do ask the question if entitlement to any PC savings can be reduced from the PC guarantee overpayment, it's called notional offsetting where one benefit is paid and an overpayment occurs where another benefit entitlement wasn't received, it's a possibility and an arguement.

When you receive the total overpayment figure you will have the opportunity to appeal within 1 month of the notification. Take this opportunity to seek advice so as not to pay back too much where you may not have too and it will give up to 12 months and ample time to sell the house to be in a position to pay therefore carrying out your mum's wishes of what she wanted to do with her savings.


I do wish you well and hope this doesn't become too much of a burden and inconvenience to the family at this sad time. It sounds like your mum had good intentions and in no way was she aware she had to declare her savings as i don't think pensioners should be penalised for saving in this way with benefits they were entitled to, obviously in hindsight things would of been different.

PeterZ_2

allen35 wrote: »

5) Bonds are classed as capital for benefit purposes just like life insurance policies are classed as capital, the only capital that tends to be ignored is the home.

Are you sure about life insurance policies being classed as capital?

margaretclare

diolch wrote: »

You seem to have forgotten Pension Credit which is means tested. Not spending that will lead also to savings and eventually a restriction will be placed on how much Pension Credit you get in the future. Save too much, and you are likely to lose the whole benefit.

No, I did not 'forget' it. I specifically did not mention it. I mentioned only those payments of which I have some knowledge.

Oldernotwiser

diolch wrote: »

This thread is referring to those over pension age as you well know, or should do if you read it properly!

Yet you then throw that load of rubbish in - under 25's on JSA indeed. Why not quote a young single mum with 4 children, why not quote someone who is so seriously disabled that they receive the full rate of DLA!!

My reply was in answer to someone who was talking generally about people on means tested benefits, not just pensioners. You also seem to have misread the fact that I said over 25 JSA, not under!

Oldernotwiser

diolch wrote: »

Each to their own then.

My wife and I have no hankerings to see the world. We have only been abroad once many years ago to Spain and hated the food and people.

Our enjoyment is the knowing that what we have can make a difference to the lives of our grandchildren in the future.
Even to the point that when my father eventually goes, my 50% share (approx £300,000) of his estate will be split 50/50 with our two daughters for their benefit and for the benefit of their children.
We have no need of the money, we would not know what to spend it on.
Everything I have worked for in my life since we had the children 31 years ago, was for them. They have had everything they have asked for. New car on their 18th tied with a pink ribbon, deposit for their homes, private education right down to the clothes etc for the grandchildren.

As I said each to their own, but we both have always put them before ourselves and enjoyed it enormously.

You sad, sad little person.

sunnyone

Oldernotwiser wrote: »

You sad, sad little person.

It depends what drink and drugs andy had before he posted that onw;)

margaretclare

Oldernotwiser wrote: »

You sad, sad little person.

Can't help smiling at this, ONW.

Isn't it just as well that everyone is different, everyone has the choice to live their life the way they want to.

I could not live the way Diolch and his missus live. Never could, never will be able to.

I actually enjoyed working for qualifications, achieving things, being in senior positions, taking responsibility. It all came crashing down at the worst possible moment, but that's life, I guess.

I enjoyed working for a degree as a mature student, worked for 14 weeks every summer although I was lucky enough to be paid a full grant because I had a sick non-working husband. My grandson did the same thing, a mature student at the same university but he funded his studies by working at his previous career, a chef.

'Hated other countries, the people, the food.' DH and I love visiting other countries, meeting the people, learning a little bit of the language and eating the food. We don't travel so far nowadays but we have many happy memories of e.g. eating grilled sardines, fresh from the sea, on the quayside in the Algarve. Or eating Black Forest gateau in the Black Forest! As recently as last July we had a wonderful holiday in the west of Ireland. Next month we're going to Shetland, inspired by Simon King's programmes, to try to see the wildlife.

I'd never give any child a car with a pink ribbon because I'm not sure they'd appreciate it. I think it's far better for them to work for what they want, and all ours have done so. My surviving daughter graduated last summer as a BA (Hons) Classics at the university where she works. This involved learning ancient Greek - she already speaks modern Greek. Achieving something like this as a mum of 3 grown-up children is great. It's the feeling of achievement that you just cannot replicate in any other way, not by being given things you didn't work for, not by inheriting money or property.

DH and I live for each other, for each other's company and we enjoy what we do together. We came back from a picnic out today after my swimming lesson and found a pair of mallard on our lawn snoozing next to the pond. Mostly simple pleasures like that.

This is way off the topic, apologies to the OP. I have PM'd the OP and answered what he asked me.