How long can I hold on to a beneficiaries money?

Mojisola

Yorkshireman99 wrote: »

I checked with the DWP. The claimant IS obliged toi report any change in circumstances that might affect their means tested benfits. The specifically said inheritance needs to be report ASAP to avoid overpayment. I asked what if they have no knowledge and they said it must be reported as soon as they do know. They also stated that repayment would be due from the date of death though they would not expect it until the money had actually been received.

That's different to the guidance in the Decision Makers' Guide, Vol 9, Chap 52 -

52174 The people named in a will or the relatives of a person who has died intestate have no interest in specific property in the estate until the executors, administrators or executors dative
1. are in a position to distribute the estate or
2. would be in a position to complete the administration of the estate if they had acted properly.

52176 At the end of the period in DMG 52174 the people named in a will or the relatives of a person who has died have a right to the capital that is due to them from the estate (see DMG 52035).
A person's rights to capital are included when working out that person's capital.


If a property has been inherited rather than money, that ownership is assumed to be from the date of the death of testator.

abby1234519

Mojisola wrote: »

That's different to the guidance in the Decision Makers' Guide, Vol 9, Chap 52 -

52174 The people named in a will or the relatives of a person who has died intestate have no interest in specific property in the estate until the executors, administrators or executors dative
1. are in a position to distribute the estate or
2. would be in a position to complete the administration of the estate if they had acted properly.

52176 At the end of the period in DMG 52174 the people named in a will or the relatives of a person who has died have a right to the capital that is due to them from the estate (see DMG 52035).
A person's rights to capital are included when working out that person's capital.




If a property has been inherited rather than money, that ownership is assumed to be from the date of the death of testator.

There is no property, it purely has been capital, so would this change?

Mojisola

abby1234519 wrote: »

There is no property, it purely has been capital, so would this change?

"Property" in this context means the estate, whether it consists of money, buildings, art works, jewellery, etc.

PasturesNew

How much?

It's Scotland and a looong way away - but might it be better to, say, visit Scotland for a long weekend/break, even if that meant you had to "claim" £200 travelling expenses for yourself to hand deliver it and sort it all out for/with your aunt?

It'd be better to go and make a small expenses claim (no posh hotels) ... to hand over, say, £10-20k, than to deny the aunt the money and to let it languish for years ... hanging over you with a big "guilt trip" all that time.

abby1234519

PasturesNew wrote: »

How much?

It's Scotland and a looong way away - but might it be better to, say, visit Scotland for a long weekend/break, even if that meant you had to "claim" £200 travelling expenses for yourself to hand deliver it and sort it all out for/with your aunt?

It'd be better to go and make a small expenses claim (no posh hotels) ... to hand over, say, £10-20k, than to deny the aunt the money and to let it languish for years ... hanging over you with a big "guilt trip" all that time.

Over 30k. I'd only be allowed to claim mileage I think.

I'll have to speak to my dad, thing is if she's seriously ill and suffers agoraphobia and paranoia she's not going to want someone shes not seen for over 10 years turning up. It's not even like I can phone her to arrange it!

The money is currently sat in a savings account, only earning 0.25% interest though. I'll have to speak to my dad, who will speak to his mum who must somehow speak to her daughter (ie beneficiary)

Although....how would she do that without a phone!!!!

Yorkshireman99

abby1234519 wrote: »

Over 30k. I'd only be allowed to claim mileage I think.

I'll have to speak to my dad, thing is if she's seriously ill and suffers agoraphobia and paranoia she's not going to want someone shes not seen for over 10 years turning up. It's not even like I can phone her to arrange it!

The money is currently sat in a savings account, only earning 0.25% interest though. I'll have to speak to my dad, who will speak to his mum who must somehow speak to her daughter (ie beneficiary)

Although....how would she do that without a phone!!!!

There is no way it would be reasonable to claim mileage or any other expenses. The bottom line is she can either give you a bank account number to pay the money into or accept a cheque.

getmore4less

This is not a debt but a beneficial interest held in a trust.

What law says that right expires at 6 years?

There are some other laws that kick in at 12 might be something in those that time bars a distribution

It forms part of the beneficiaries estate so their executor/administrator could come after it if they have been too ill to accept it while alive.