Equity and benefits

jaxa

Advice needed please. I'm 66 yrs old and retired due to health issues.
My ex wife moved out a year ago and I have permanent care of one of my my sons who's 15. We get ctc, free school meals and I get full council tax relief.
Following my divorce the family home has now been sold stc and in a few months I will have a share of the equity, but not enough to buy a property, so I'm expecting to rent privately and help with my sons further education costs until the money runs out.
Can a benefits adviser tell me what I will lose,or even better,what I will still be entitled to?

Many thanks

rogerblack

In short - all means tested benefits will stop at >>16K.
You need to find out why you're getting full CTR, and what the rules are of your council, as they vary.

My understanding is that free school meals will certainly stop.
CTC will continue.

pmlindyloo

Put your details into the benefit calculator on https://www.entitledto.co uk including the capital/savings that you will be getting and the rent you expect to be paying.

zagfles

rogerblack wrote: »

In short - all means tested benefits will stop at >>16K.
You need to find out why you're getting full CTR, and what the rules are of your council, as they vary.

My understanding is that free school meals will certainly stop.
CTC will continue.

Why do you think FSM will stop? As I understand providing you're getting CTC on an income of under around £16k and not getting WTC, FSM will continue.

The income will include interest etc off the capital but not the capital itself, so as long as the interest (or dividends/rent/other income from capital) doesn't push income over £16k FSM should continue.

http://www.turn2us.org.uk/information__resources/benefits/education/free_school_meals.aspx

jaxa

rogerblack wrote: »

In short - all means tested benefits will stop at >>16K.
You need to find out why you're getting full CTR, and what the rules are of your council, as they vary.

My understanding is that free school meals will certainly stop.
CTC will continue.

Hi--- I get full CTR at the moment because my state pension is my only income.
It's pretty much as I expected though..I doubt there will be any help with my rent or CT while I have capital.

jaxa

Hi...so as long as my pension and income from the equity don't exceed 16k...I could still qualify for FSM... would that apply to housing benefit as well?;)

zagfles

jaxa wrote: »

Hi...so as long as my pension and income from the equity don't exceed 16k...I could still qualify for FSM... would that apply to housing benefit as well?;)

No, HB has capital rules.

tomtom256

jaxa wrote: »

Hi...so as long as my pension and income from the equity don't exceed 16k...I could still qualify for FSM... would that apply to housing benefit as well?;)

Yes, but you would have tarrif income between £6k and £16k.

Anything over £16k would mean you are not eligible for housing benefit.

Can you claim pension credit?

jaxa

tomtom256 wrote: »

Yes, but you would have tarrif income between £6k and £16k.

Anything over £16k would mean you are not eligible for housing benefit.

Can you claim pension credit?

No I can't get any pension credit because I have a some extra state pension from years ago before they started all the changes. This puts me over the limit.....which is astonishingly low