Inheritance

Keep_pedalling

Sounds like all 3 of them would be better off instructing the solicitor to sell the house and distribute the inheritance as cash.

Mojisola

ABoyBrushedRed wrote: »

Yeah i guess but my concern is defending my friend and not the other siblings

But what's right for them is also right for him.

If the siblings refuse to sell, your friend is going to be struggling.

ABoyBrushedRed

If they sell and they get the cash inheritance, any account they can put this into without it being deemed as capitol where benefits will get affected?

Andypandyboy

No, and really why should it? Means tested benefits are just that - dependent on what cash you have, a safety net if you like, so if yo have the cash you are not entitled until you have used it for daily living expenses. Non means tested disability benefits won't be affected.

Keep_pedalling

ABoyBrushedRed wrote: »

If they sell and they get the cash inheritance, any account they can put this into without it being deemed as capitol where benefits will get affected?

No, but if they have cash they will not be worse of than they are now. Owning this property will just be a millstone round their necks.

melanzana

Would a deed of variation work, whereby the person in question renounces his share but takes £6,000 in lieu, after all costs etc.

That would be him sorted re benefits anyway, and a few bob aswell. Win, win.

Depends on whether the siblings will sell. Their position post sale is not the problem of this person.

calleyw

melanzana wrote: »

Would a deed of variation work, whereby the person in question renounces his share but takes £6,000 in lieu, after all costs etc.

That would be him sorted re benefits anyway, and a few bob aswell. Win, win.

No. have you read any of this thread. it has already been mentioned.

If you give away the money you will be treated as still having it.

There is no way round this. The op's friend will have to live off it until he gets below £16K

Yours

Calley

melanzana

calleyw wrote: »

No. have you read any of this thread. it has already been mentioned.

If you give away the money you will be treated as still having it.

There is no way round this. The op's friend will have to live off it until he gets below £16K

Yours

Calley

Hi, no need to have a go at me there. Uncalled for if you don't mind me saying so, but however...

But if the person does not take it under the will, and renounces it under a deed ofvariation BEFORE the assets are distributed, how can he have taken it in the first place?

I am not suggesting that he takes the proceeds of sale and gives away everything except £6k.

A deed of variation is surely a different thing.

calleyw

melanzana wrote: »

Hi, no need to have a go at me there. Uncalled for if you don't mind me saying so, but however...

But if the person does not take it under the will, and renounces it under a deed ofvariation BEFORE the assets are distributed, how can he have taken it in the first place?

I am not suggesting that he takes the proceeds of sale and gives away everything except £6k.

A deed of variation is surely a different thing.

Why do people reply to a thread when they have not read it or have no knowledge of the subject at hand. And then get funny about it when pulled up on it.

The answer is still NO. You can't give away what you have been given in a will even with a deed variation for means tested benefit purposes. You will still be treated as having the full amount and thus it could effect means tested benefits.

There is no way around this. The op's friend will have to bite the bullet and pay his own way for a while once he has the money. And can re-claim when it gets below the the limits set.

Also best to keep receipts of what the money has been spent on. As the decision maker may decide that you have spent the money just to re-claim benefits.

Yours

Calley

missbiggles1

melanzana wrote: »

Hi, no need to have a go at me there. Uncalled for if you don't mind me saying so, but however...

But if the person does not take it under the will, and renounces it under a deed ofvariation BEFORE the assets are distributed, how can he have taken it in the first place?

I am not suggesting that he takes the proceeds of sale and gives away everything except £6k.

A deed of variation is surely a different thing.

Deptiving yourself of money so that you can carry on claiming benefits is the same whether you take it and give it away or don't claim it in the first place.