Inheritance

bill85129

Hi
My Dad is due to inherit 21000 . However he retired 4 years earlier than expected due to ill health and as such lived off savings. He , along with my mum, has subsequently had to rely on benefits since then and myself and my sister have helped them out significantly. My Dad wishes to give myself and my brother some of the inheritance as payback but is concerned that it will look like he is trying to defraud the benefits system.
What is the best way to do this?

bill85129

Apologies me and my sister

poppy12345

bill85129 wrote: »

Hi
My Dad is due to inherit 21000 . However he retired 4 years earlier than expected due to ill health and as such lived off savings. He , along with my mum, has subsequently had to rely on benefits since then and myself and my sister have helped them out significantly. My Dad wishes to give myself and my brother some of the inheritance as payback but is concerned that it will look like he is trying to defraud the benefits system.
What is the best way to do this?

If they claim any means tested benefits then anything over £16,000 in savings/capital will stop their benefits. If they give away money to bring their savings down below the limit, then this is called deprivation of capital. They will still be classed as having the money and their benefits will still be stopped.