Do you have to accept a bequest in a will?

Keep_pedalling

https://forums.moneysavingexpert.com/discussion/comment/81973478#Comment_81973478

Sorry that is just nonsense, just try and get a loan on the fact that you are mentioned in a will. No one inherits anything until the testator dies and wills can change or the testator could end up dying with a insolvent estate.

We are also not talking about benefits here.

Sea_Shell

https://forums.moneysavingexpert.com/discussion/comment/81973478#Comment_81973478

Just think about that for a minute.

You decide to bequeath Seashell something in your will.

I say to you, "please don't leave anything to me in your will, mta999"

Have I deprived myself of any assets?

RAS

Based on your latest post and responses from K_p and poseidon, your daughter definitely needs to understand exactly what her status is and what her contract allows. If there is a maximum saving allowance, perhaps the donor can amend their will to leave her less than that level?

mta999

https://forums.moneysavingexpert.com/discussion/comment/81973520#Comment_81973520

you have deprived yourself of whatever seashell was going to leave you ?

If seashell's will said 'I leave MTA999 £10,000 pounds' and MTA999 says 'no please don't do that or I will lose my benefits' then I have deprived myself of 10,000 pounds?

ps it doesn't matter that it is a future ten thousand pounds - it's still an asset

thegreenone

I'm clutching at straws here and trying to remember what an elderly relative did in similar circumstances.

Could the money go into a trust of some description? Money can be accessed, via the Trustees, for certain purchases, a car for example but not day to day living.

Sorry, elderly relative is still alive so can't tell you how it works.

Sea_Shell

https://forums.moneysavingexpert.com/discussion/comment/81973590#Comment_81973590

You missed the word POTENTIAL future asset. They might die pennyless.

There IS no asset until death, and the estate is calculated. At that point, yes, declining the bequest could be DOA.

It's like saying I've deprived myself of a million £ lottery win, because I didn't buy a ticket.

matt.d.

https://forums.moneysavingexpert.com/discussion/comment/81973001#Comment_81973001

Hmmm I wouldn't want to be a defendant on a case with you as a juror being that much in a rush to a judgemental position. You might want to read poseidon1's comment for a more balanced response

Just fyi, £800 rent is what she pays for a 2bed flat where market rent is circa £1750. Totally unaffordable.

The market value is circa £650k so an £80 deposit would leave a mortgage of £570k - do you now see why she doesn't want to jeopardise her situation?

Or do you have some other equally unsympathetic and judgemental cobblers to put forward? All put forward with little to add except spite?

Oh and finally, the charity exists to support key workers who cannot afford to live in London and indeed she works in the NHS so will be helping people like you when you're in need of medical care. So you might want to take a good look in the mirror.

QrizB

Just fyi, £800 rent is what she pays for a 2bed flat where market rent is circa £1750. Totally unaffordable.

Market rent is £950 (a month?) more than she's currently paying.

If she came into £80k she could afford to pay market rent for 84 months, which is 7 years.

matt.d.

https://forums.moneysavingexpert.com/discussion/comment/81973838#Comment_81973838

Sorry for confusing the position - similar flats in the area would be £1750pcm. There are no privately rented flats in the development, just what are deemed to be almshouses.

noitsnotme

https://forums.moneysavingexpert.com/discussion/comment/81973838#Comment_81973838

What is she meant to do after 7 years when the £80k has run out and she can no longer afford the full rent?