Beneficiary refusing inheritance?

jackyann

I hadn't thought of that nom de plume. We haven't been told the reason they are refusing (being on benefits seems to be implied). But even on benefits they can make good use of the money and get some benefit for themselves.
Of course, it depends on their personality and abilities - but that applies to all who receive a windfall!

6022tivo

Possibility of some of that I think? Sad times..

Marktheshark

I would send the cheque, funny things happen when people actually have it in their hands.

6022tivo

Paperwork "Receipt for settlement of residuary estate" needs signing.

missbiggles1

Malcnascar wrote: »

Does the amount exceed £6,000. If not, so long as the beneficiary would not have more than £6,000 combined capital, then I think they would be ok to have the inheritance.

If it is less than 2 years since the death then it may be possible to consider a deed of variation with a discretionary trust. Needs specialist advice here and I certainly dont have the knowledge but had the grandmother, when drawing up her will, known that one of her grandchildren was in receipt of benefits, a good solicitor could have suggested discretionary trusts as a potential solution. I stress, I am uncertain of the how but recall reading something similar in the past.

Trusts are useful for disabled people claiming benefits but not in general. A deed of variation doesn't avoid the deprivation of capital issue.

whitewing

I am also wondering if the grandchildren are siblings? Maybe they are thinking that if it all gets paid to one, then the other can receive their portion without it affecting benefits?? I know someone who was once thinking along similar lines. It is incredible how people can justify things to themselves.

Mojisola

Malcnascar wrote: »

It may, of course, be too late to consider my suggestion and even it it was not too late, the executors may decide its all too complicated.

If the trust was set up in the will, your idea would work.

A beneficiary can't ask for their inheritance to be put into a trust without breaching deprivation of capital rules. They have been left the money; it's theirs.

6022tivo

The beneficiary is asking for the inheritance to be paid into an account that is not in their name but they have access to the said account.
This is an instruction to the executor for their funds in writing with just the Sort and Account number being in the letter. I suppose this protects the executor.

The Executor will have no idea that it is not their account, and the Government/dwp will have no record of the beneficiary ever having received the money in question.

Wrong, isn't it!

Stevie_Palimo

6022tivo wrote: »

The beneficiary is asking for the inheritance to be paid into an account that is not in their name but they have access to the said account.
This is an instruction to the executor for their funds in writing with just the Sort and Account number being in the letter. I suppose this protects the executor.

The Executor will have no idea that it is not their account, and the Government/dwp will have no record of the beneficiary ever having received the money in question.

Wrong, isn't it!

Clearly yes and trying to defraud the tax payer out of additional money, I'd personally seek legal advice here but would not entertain the idea of paying into a 3rd party account as it is fraud after all.

6022tivo

" Dear Mr Executor,
Many thanks for the information regarding my inheritance.
Please find attached my signatures on your paperwork for the release of the funds.
Could you please pay it into Sort xx-xx-xx and Account xxxxxxxx.

Many Thanks
Tax dodging beneficiary.
"



I'm not sure what else the Executor can do here?