Benefits V savings

ERoseE

Hi,

According to the amount I earn I should be entitled to council tax benefit. However I have a large amount of inheritance in savings. This is to be used for very specific things in my life and is not used in any way to help day to day living. Will this affect how much (if any) benefit I am entitled to?

Thanks!

custardy

ERoseE wrote: »

Hi,

According to the amount I earn I should be entitled to council tax benefit. However I have a large amount of inheritance in savings. This is to be used for very specific things in my life and is not used in any way to help day to day living. Will this affect how much (if any) benefit I am entitled to?

Thanks!

who says?,,,,,,,

ERoseE

custardy wrote: »

who says?,,,,,,,

The person I inherited the money from

custardy

ERoseE wrote: »

The person I inherited the money from

do you have full access to the money?

ERoseE

Yes but I don't really see how this matters. It's in my name and I have access to it, however I can't (and won't) use it for day-to-day living.

Pollycat

ERoseE

I don't think your local council will see it that your inheritance should be used for very specific things in your life and not to help day-to-day living.

Typically, council tax benefit is not payable if your savings are in excess of £16000 (unless you are in receipt of guarantee pension credit).

But the only way to make sure is to apply to your local council.

ETA
why can't you use it for day to day living?

The savings may be in your name but the council will want proof of your savings before awarding you CTB.
Unless there's some law that I'm unaware of that says certain conditions in wills override government rules - and I doubt this.

custardy

ERoseE wrote: »

Yes but I don't really see how this matters. It's in my name and I have access to it, however I can't (and won't) use it for day-to-day living.

lol,if you dont see it then you have problems
so i f i have £100k in the bank but i tell the council its only to be spent on my education, they well the other council tax payers) should support me?

Lady_gaga

why haven't you applied for it before? you need to now since getting this windfall? bit strange OP, your not posting this just to stir things up are you?

Oldernotwiser

Lady_gaga wrote: »

why haven't you applied for it before? you need to now since getting this windfall? bit strange OP, your not posting this just to stir things up are you?

Lots of people inheriting money at the moment - perhaps there's been an epidemic somewhere?:rotfl:

MrsManda

ERoseE wrote: »

Yes but I don't really see how this matters. It's in my name and I have access to it, however I can't (and won't) use it for day-to-day living.

There's a BIG difference between Can't and Won't.

If you 'can't' because there is a legal stipulation that says that the money can only be used for X and if you attempt to use it for Y the remainder will be transferred to the local cat home then it may be discounted for benefit reasons.

If you 'won't' because you have decided that you want to use the money for something else then I don't see how the council or dwp can justify discounting it in order to giveyou any income based benefits.

(any discussions you had with the person who have inherited from about what the money should be used for is I think irrelevant unless it resulted in a legally binding agreement).

nannymiaow

I think the private pension plans we paid into for many decades should only be used to enjoy ourselves and therefore not count as income so can we claim council tax benefit etc? Seems only fair.