Inheritance affecting benefits

t0rt0ise

Can't you really see the dismay of the OP in this? They get a windfall but they can't enjoy it and do as anyone else would do and spend it on a luxury or even save it for retirement but they have to spend it on Tesco shops and rent. I don't claim benefits but I can see that. Why can't you?

Oldernotwiser

t0rt0ise wrote: »

Can't you really see the dismay of the OP in this? They get a windfall but they can't enjoy it and do as anyone else would do and spend it on a luxury or even save it for retirement but they have to spend it on Tesco shops and rent. I don't claim benefits but I can see that. Why can't you?

They can keep a substantial amount of the money and have their benefits minimally affected and they can make their lives more comfortable by buying disability aids and adaptations. I don't think that's to be sneezed at, quite honestly.

We really can't have a system where someone blows £50K on luxuries and then is kept by the state. Fortunately the OP seems to be taking a very reasonable attitude to this.

jackyann

I suggest that you approach an appropriate charity, or possibly a solicitor (the one dealing with the will?). Your bank may even have an advisor on such things. I don't have specific experience, but have known people in this situation being able to do things such as buy equipment to make their lives better, set up savings for children (there are specific rules you have to follow, again I don't know them exactly).
I think this is a case where getting some specialist advice, even if you have to pay for it, may make a big difference to your family.

Mojisola

jackyann wrote: »

I suggest that you approach an appropriate charity, or possibly a solicitor (the one dealing with the will?). Your bank may even have an advisor on such things. I don't have specific experience, but have known people in this situation being able to do things such as buy equipment to make their lives better, set up savings for children (there are specific rules you have to follow, again I don't know them exactly).
I think this is a case where getting some specialist advice, even if you have to pay for it, may make a big difference to your family.

Canvass opinions but the only advice you can trust is that of the DWP and, even with them, you need to get it in writing that they have given the OK to spend money on A, B or C.

krisskross

Is getting this inheritance and thus having to fund their own life any different to us not being able to claim any means tested benefits now we are retired because we saved earlier on in our lives?

My parents both died and left me nothing, same for my husband.

They will still get Child benefit, child tax credits, DLA. this probably adds up to a reasonable sum. DLA high rate could be £500 per month plus £200 a month child benefit plus whatever tax credits are.

jackyann

Mojisola wrote: »

Canvass opinions but the only advice you can trust is that of the DWP and, even with them, you need to get it in writing that they have given the OK to spend money on A, B or C.

Of course, sorry if I didn't make that clear; but best, in my experience to take a proposal to them. I used to work alongside a welfare rights charity who were very good at helping people in this situation.

dseventy

t0rt0ise wrote: »

They get a windfall but they can't enjoy it and do as anyone else would do and spend it on a luxury or even save it for retirement but they have to spend it on Tesco shops and rent. I don't claim benefits but I can see that. Why can't you?

Nobody works in the OPs househould and are 100% reliant on state intervention for their roof/food/money.

That state intervention comes with rules, one of which is any capital over limits removes them from that intervention. Quite rightly someone with 50K in the bank looses the intervention.

If someone worked and asked for no intervention (means tested benefits) then they have can spend it how they like.

Is that really so a misunderstood concept?
D70

pingua

You don't say what sort of work you may be looking for in the long term. could you use this money to start setting something up ??

jackyann

I don't want to get too drawn in to this - just wanted to give advice from my experience to OP.
But I would add that we pay our NI & taxes so that the welfare state can support us when illness causes a situation like this. OP is already saving us a lot of money by being the carer for his wife. There are young children in this equation too, who have a disabled parent, and are now without half of their grandparents' support.
I think that the family owes it to the grandparents to make the best use of this money. Obviously we have no way of knowing if any poster here is genuine.

Oldernotwiser

jackyann wrote: »

I don't want to get too drawn in to this - just wanted to give advice from my experience to OP.
But I would add that we pay our NI & taxes so that the welfare state can support us when illness causes a situation like this. AND WE ARE UNABLE TO SUPPORT OURSELVES. OP is already saving us a lot of money by being the carer for his wife. There are young children in this equation too, who have a disabled parent, and are now without half of their grandparents' support.
I think that the family owes it to the grandparents to make the best use of this money. Obviously we have no way of knowing if any poster here is genuine.

I have added a vital part to your post.