inheritance and disability benefits

brid_dave

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nannytone_2

no, you cannot change the terms of the will now your father has died.

why are you so against using the approx 70k you stand to inherit to support yourself?

brid_dave

i wasn't asking whether i could change the will but was enquiring whether a trust can be set up in regards to it. In reference to supporting our selves i have read in similar topics about trust funds aimed at protecting vulnerable people, ie my disabled wife.
thank you.

converted

use your inheritance to keep yourself and your wife instead of looking for ways to have the tax paying public keep you.

tomtontom

The money has been left to you, are you a vulnerable person? The idea behind a trust is to protect those that cannot manage their own affairs, if you're capable of caring for your wife it seems fair to assume that does not apply to you.

On a positive, you're now going to be capable of providing for your family - that's got to be a good thing? You'll continue to receive CA and DLA.

Savvy_Sue

Plus, if there are improvements you could make to the house or garden to make life easier, or a new car would be helpful, you've got the capital to sort them.

oldhand

Why do so many people who are fortunate to receive such a windfall immediately start to search for ways to continue to claim benefits.? Use your windfall to improve your life whilst you have it.......

kazzah

I would LOVE to be in the OP's shoes.................if I inherited £70k I could pay off our mortgage £57K and support me and my hubby for a good few years, without worrying about him being out of work
currently he is out of work after a contract finished, he has a small occupational pension of £700 per month and because of this we get NO JSA or additional help.

I have used ALL my savings from my inheritance left to me by my Mum 17 years ago ( about £18k) and have done so willingly to keep a roof over our head - if I could only pay off the mortgage it would be such a help to us................
some people simply don't want to take responsibility for themselves

oh and I too am disabled - as are both my sons ( who now both work for our local city council) so a very similar situation as the OP

the greed of some people takes my breath away

poppy12345

brid_dave wrote: »

i have searched the forums but cannot find a definitive answer so appologies if this question has been asked before.
My late father passed away in early december of last year leaving a will which has yet to be read in the region of £80k in cash assests, he also owned a property in the region £130k, the beneficiaries of the will shall be my brother, sister and myself.
I am married and receive income support with added pips/dla for my disabled wife who receives the middle rate of care component and lower rate of mobilty due to her disabilites, i also receive housing benfit and carers allowance.
Because the assetts exceed the 16K benefits threshhold we stand to lose all means tested benefits and will have to use the proceeds of the will to live off for the forseable future.within the will there was nothing written within as regards a trust, is there any option for a trust to be arranged pre will reading and if so what are the pros and cons of a trust ?
thanks in advance

Wow you've got to be kidding??? some people want everything!!! Makes me so mad too...........................

controversy

brid_dave wrote: »

i wasn't asking whether i could change the will but was enquiring whether a trust can be set up in regards to it. In reference to supporting our selves i have read in similar topics about trust funds aimed at protecting vulnerable people, ie my disabled wife.
thank you.

Dave don't bother asking sensitive questions on this board because your get a lot of moody jealous people who will try and punish you
for the wealth you've accumulated though labors, luck or entitlements.

There are a few ways to save money while receiving disability benefits which are within the rules and regulations of the benefits system.

Number 1. Put the money into a SIPP pension.

I personally wouldn't recommend this because the markets are going crazy at the moment.

Number 2. Buy property and use it as her only home. When your other half gets old enough she can simply sell that property. Pass the money to a nursing home in exchange for x number of years care.

I know how hard it is to be pressured and feel fear. Hopefully with this info your be safe.

missbiggles1

controversy wrote: »

Dave don't bother asking sensitive questions on this board because your get a lot of moody jealous people who will try and punish you
for the wealth you've accumulated though labors, luck or entitlements.

There are a few ways to save money while receiving disability benefits which are within the rules and regulations of the benefits system.

Number 1. Put the money into a SIPP pension.

I personally wouldn't recommend this because the markets are going crazy at the moment.

Number 2. Buy property and use it as her only home. When your other half gets old enough she can simply sell that property. Pass the money to a nursing home in exchange for x number of years care.

I know how hard it is to be pressured and feel fear. Hopefully with this info your be safe.

Very likely to be considered as deprivation of capital.