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Inheritance gifts whilst on UC
Morningstar113
Posts: 1 Newbie
My kids grandma wants to gift my kids money. It'd be a few thousand. She's not had the best health and is trying to divest bits of her estate so the 7 year law is applied. The kids have their own current accounts and debit cards, but are only 12 and 14, so obviously live with me. I'm concerned the DWP will view it as my money and count it towards my savings, and also see it as deprivation. Advice plse.
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Can she send it directly to their accounts?Statement of Affairs (SOA) link: https://www.lemonfool.co.uk/financecalculators/soa.phpFor free, non-judgemental debt advice, try: Stepchange or National Debtline. Beware fee charging companies with similar names.0
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Yes not a problem if paid directly to kids accounts.The comments I post are personal opinion. Always refer to official information sources before relying on internet forums. If you have a problem with any organisation, enter into their official complaints process at the earliest opportunity, as sometimes complaints have to be started within a certain time frame.0
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You mentioned deprivation. Is Grandma in receipt of means tested benefits or intending to claim them?Never, ever give up........0
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If Grandma is trying to get below the £23,250 capital limit for help with care home fees, then it will be seen as deliberate deprivation of assets and she shouldn't do it. She can spend the money on things she reasonably needs.The comments I post are my personal opinion. While I try to check everything is correct before posting, I can and do make mistakes, so always try to check official information sources before relying on my posts.1
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The 7 year rule is related to inheritance tax, is her estate ever likely to pay this? If you are worried able droreivation of assets that sounds highly unlikely.0
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