coming into a sum of money around £60k from house sale and downsizing

ange1962

hi my parents are both in their early 70s they are moving house due to health reasons and currently receive a number of benefits, council tax benefit, disability living allowance, incapacity benefit, carers allowance plus their state pensions. they will spend some of the £60k surplus from moving to improve the property, will this amount affect any of their benefits? and once improvements completed expect to have around £30 to £40k in savings, where should they put it. any advice ideas welcomed.:)

xylophone

I didn't think that it was possible to receive State Pension and incapacity benefit?
Can people over state pension age receive carer's allowance?

Perhaps you should pose your question on the Benefits Board?

ange1962

apologies everyone, its attendance allowance not incapacity benefit

Archergirl

I don't know but I would have thought with 30 to 40K they won't be entitled to any benefits.

sleepless_saver

Archergirl wrote: »

I don't know but I would have thought with 30 to 40K they won't be entitled to any benefits.

It won't make any difference to their attendance allowance, and they might still be entitled to other benefits if their state pension income is low enough. They should run a benefits check.

atush

I agree, that this is not a pension question and would be better suited to first- the benefits forum where those in the know will be able to sort the means and non means tested benefits, then after that- the savings and investment forum.