Can I retain my benefits with a deed of variation& inheritance in a trust managed by

[Deleted User]

Instead of trustees etc would it not be better if they had power of attorney so that you could live off the £ and not benefits?

IAmWales

Sexyscorp66 wrote: »

It looks like the solicitor-who is actually a partner in the probate department of a major firm.of solicitors-has either got it badly wrong-or if I'm very cynical (maybe too cynical)-probably realises this is the case but just wants the business.It would cost £750 to set it up.
In terms of nominating somebody to steward my finances,maybe a power of attorney woukd be cheaper to get.
The potential trustees have suggested using it to buy a house,to.give me some security.

Are you the original poster?

Do you want the responsibility that comes with home ownership? You'd need to make sure you had sufficient funds left to cover maintenance, insurances etc.

Ames

Sexyscorp66 wrote: »

It looks like the solicitor-who is actually a partner in the probate department of a major firm.of solicitors-has either got it badly wrong-or if I'm very cynical (maybe too cynical)-probably realises this is the case but just wants the business.It would cost £750 to set it up.
In terms of nominating somebody to steward my finances,maybe a power of attorney woukd be cheaper to get.
The potential trustees have suggested using it to buy a house,to.give me some security.

In my experience probate lawyers don't understand the benefits system. A poster on here has a signature that goes something along the lines of 'don't attribute to malice what can be explained by ignorance'. It seems apt here.

teddysmum

A trust's costs are not just setup fees. My grandchildren each are to receive some money to be held in trust and though the inheritances will probably be invested in the same places,with the same results, each child has to pay £15 +VAT,ie £18,every month to receive a monthly update ,so,in their case £54 for at most £18's worth of information, for the length of the trusteeship.


If you buy a house,which will have to be a cash sale, as no income means no mortgage, you will have to pay all your own maintenance and will get less benefit, as you won't get housing benefit.

GunJack

If the OP is suffering the effects of their conditions, wouldn't PIP be appropriate, especially as it isn't means-tested?