Inheritance not enough

zagubov

Sounds like time for a family meeting.

Ask yourself, was your benefactor hoping to give you a lift up in the world, or to just give the taxpayer a break from paying your benefits?

As Doozergirl says, it's time to see what mortgage you could afford, and where you (and your other half) could find work and live that's affordable.

If not now, when?

getmore4less

Peter_Williams wrote: »

I'm not sure I would TELL anyone how to change their will to benefit me.
I may suggest something, but the money belongs to the person making the will, not some grasping idle relative who hasn't earned the money.

Simple

"Please don't leave me any money I will just have to use it to replace benefits better if someone that can keep it gets it"

Doozergirl

Here we go. I get 40 posts per page and it's virtually guaranteed for the posts to escalate into 'no help at all' at page two, with one post wonders who have barely read the OP.

The guy has a job and can't see a solution that fits the present life. My post about tax credits clearly was important because there's nothing wrong with working hard but having a low income.

Moving away is a massive change for any of us and it's okay to not consider it straight away. Change is hard, but those of us that have moved away from the South East can vouch for a better life. I cannot imagine paying out the amount of rent one has to when you're in and around London and on an average wage. It must be paralysing.

Peter_Williams

There is one possible way for the OP to keep the inheritance - but as I mentioned in an earlier post, the govt may not allow it:

OP and partner borrow £60k now from a relative, in installments. Keep records of the borrowings.
Keep the cash hidden safe somewhere.
When the inheritance comes through, use it to pay off the loan to the relative. Keep records of the loan repayment.
Tell the DWP the loan was for living expenses etc.
The DWP may not classify the loan repayment as ''deprivation of assets''.

But then again, they may say it is.

Not something I'd do. It's dodgy and none of my relatives would loan me £6, let alone £60k.

Peter_Williams

MysteryMan00 wrote: »

Hark at this guy.


Hasn't pulled his finger out to provide properly for his own family - like buying the food his child needs from the fruits of his labours.


Then he has the gaul to moan about inheriting £60k. Apparently it isn't enough for a deposit. Not sure what size of mansion he was hoping to get as it should be plenty for a decent house.


My advice would be to stop moaning and buck your ideas up. Provide for your family like a man should. The £60k should give you a good bump along this road - rather than be a convenient way of allowing you to continue to be idle and ineffective.

Who said the child hasn't been fed?
More made up nonsense.

Peter_Williams

getmore4less wrote: »

Simple

"Please don't leave me any money I will just have to use it to replace benefits better if someone that can keep it gets it"

Why should the old person leave anyone any money?
The old person should be spending the money to ensure they have a comfortable life before they die.
Too many old people are pressured into feeling they should leave money for others.
No one needs any inheritance. People should make their own way in the world - not scrounge off the elderly.

Smodlet

Peter_Williams wrote: »

Why should the old person leave anyone any money?
The old person should be spending the money to ensure they have a comfortable life before they die.
Too many old people are pressured into feeling they should leave money for others.
No one needs any inheritance. People should make their own way in the world - not scrounge off the elderly.

[URL="https://forums.moneysavingexpert.com/discussion/6036975Or the HMRC?[/URL]

Doozergirl

Smodlet wrote: »

[URL="https://forums.moneysavingexpert.com/discussion/6036975Or the HMRC?[/URL]

People don't know when they're going to die. If they have some, they need to ensure that there is fuel in the financial tank for the future, almost regardless of present age.

My mother was 45 when she died. That was a time to be gathering for the future, not spending it just in case I ended up with some of it, God forbid.

Peter_Williams

Doozergirl wrote: »

Here we go. I get 40 posts per page and it's virtually guaranteed for the posts to escalate into 'no help at all' at page two, with one post wonders who have barely read the OP.

The guy has a job and can't see a solution that fits the present life. My post about tax credits clearly was important because there's nothing wrong with working hard but having a low income.

Moving away is a massive change for any of us and it's okay to not consider it straight away. Change is hard, but those of us that have moved away from the South East can vouch for a better life. I cannot imagine paying out the amount of rent one has to when you're in and around London and on an average wage. It must be paralysing.

Exactly.
It's a crazy situation.
Working tenants are getting exploited and the LHA is milking the taxpayer.
It just enables a system of low pay to continue.
if more workers left the London / SE area, wages would have to rise there.
Or more businesses would relocate to cheaper regions to follow the labour supply.

The problem is, most MPs and their associates are in London benefiting from the cheap labour. Their chums in the media demonise the working class with their rubbish TV programs.
The whole system is a cesspool of politicians and media manipulating the public.

grumiofoundation

Peter_Williams wrote: »

There is one possible way for the OP to keep the inheritance - but as I mentioned in an earlier post, the govt may not allow it:

OP and partner borrow £60k now from a relative, in installments. Keep records of the borrowings.
Keep the cash hidden safe somewhere.
When the inheritance comes through, use it to pay off the loan to the relative. Keep records of the loan repayment.
Tell the DWP the loan was for living expenses etc.
The DWP may not classify the loan repayment as ''deprivation of assets''.

But then again, they may say it is.

Not something I'd do. It's dodgy and none of my relatives would loan me £6, let alone £60k.

Sadly your relatives are not a good example to follow...
https://forums.moneysavingexpert.com/discussion/6036975

OP before remotely considering anything this guy is saying read the thread above.

As other posters have said moving may be the answer. There are places in the South East where you may be able to buy with a small mortgage. There are pockets of much cheaper housing. Depends where you are?