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Beneficiary refusing inheritance?
Comments
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" 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?
Refuse to pay it, If you know it is wrong then sure paying this is simply not on and I'd personally say right it gets paid into your account directly or a cheque is wrote out for the sum in question.
Even considering putting this elsewhere is morally and ethically wrong.0 -
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!
The DWP has links to the Probate Department and have every chance of catching the people involved in this sort of fraud so I suggest you don't get involved in it.0 -
This thread is fun..
Ok last question, what sort of annual spending would the council/dwp class as acceptable and not deprivation of capital?0 -
This thread is fun..
Ok last question, what sort of annual spending would the council/dwp class as acceptable and not deprivation of capital?
There is no such rule. The annual spending issue arises when one is looking at IHT (gifts made out of income while maintaining your expected standard of living are not subject to the seven year rule).
If you choose to set about spending your savings in the manner of George Best ("I spent half the money on women and drink, the rest I just squandered") then there is no deprivation of capital issue. If you used it to buy capital assets which you still control, or you gave it away in a way which implies you might be able to get it back, that's different, but you can spend your money as you wish if the effect is not to conceal it while retaining some influence over it.
The "deprivation of assets" rules have been wildly over-inflated to scare the unwary. One might almost be left with the impression that councils could demand your thirty year old supermarket receipts to make sure you weren't buying expensive wine when you should have been saving it for your old age. What you can't do is engage in artificial transactions whose effect is to remove from your immediate assets things that you still retain some informal control over, and you can't do it when there is a real and immediate prospect of care home fees.
The idea that a 70 year old in good health can't take a cruise for fear it might count as deprivation (which I have seen suggested) is preposterous.0 -
" 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?
Well he could always pay it then report the beneficiary for benefit fraud a few months down the line.0 -
Refusing to pay may open up the executor to liability as it's their job to distribute. As long as the executor gets a receipt from the person named in the will, they have done their job and where the money physically goes is not their problem.Stevie_Palimo wrote: »Refuse to pay it, If you know it is wrong then sure paying this is simply not on and I'd personally say right it gets paid into your account directly or a cheque is wrote out for the sum in question.
Even considering putting this elsewhere is morally and ethically wrong.
A beneficiary would be perfectly within their rights to ask for it in legal tender (cash).0 -
Refusing to pay may open up the executor to liability as it's their job to distribute. As long as the executor gets a receipt from the person named in the will, they have done their job and where the money physically goes is not their problem.
A beneficiary would be perfectly within their rights to ask for it in legal tender (cash).
As will allowing fraud to openly happen, Also if a substantial amount they can hardly ask for it in used ten pound notes, Oh please may I have £250.000 in 10.00 notes. Yes of course you can really.0 -
Why "Openly happen?" It is none of the executor's business how the money is used, as long as it goes to the correct person.Stevie_Palimo wrote: »As will allowing fraud to openly happen, Also if a substantial amount they can hardly ask for it in used ten pound notes, Oh please may I have £250.000 in 10.00 notes. Yes of course you can really.
May be different if they are explicitly told the purpose is fraudulent, but it is not their business to enquire about this.0 -
Why "Openly happen?" It is none of the executor's business how the money is used, as long as it goes to the correct person.
May be different if they are explicitly told the purpose is fraudulent, but it is not their business to enquire about this.
Your moral compass is quite clearly displaced compared to most upstanding members of the community.
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The executor needs to protect themselves from being a party to fraud. The simplest way is to send a cheque.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!0
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