will and affects

JD118

Hello,

Strange one but let's go, Four people named in a will, three are executors, other a beneficiary.

Will left by my late grandfather/father, On of the executors do live in the mortgage free property and has done since birth approx fifty years,

So four people, Two whom are in receipt of UC, Two are state pensioners, All receiving some kind of housing benefit, apart from the one who is in the private dwelling.

We have been named to receive some cash which we all know the limits on UC and pension credits.

The question is as no one wants any part of the property, apart from the live in family member, what can we do with it in legal form.

elsien

The usual process would be a deed of variation if the property has been left to more than one person however someone who is claiming means tested benefits cannot give an asset away without it being treated as deprivation of capital. If you give you a share away, you will be treated having it for benefits purposes.
I am confused as to how many beneficiaries they actually are though? All four of them?
It may be that the property needs to be sold, the estate settles between the beneficiaries and the person living there makes alternative living arrangements unless the will has given them the right to stay.

sheramber

Can the person who lives in the house buy out the the other three. He would then own the whole house and the others get more cash.

poseidon1

https://forums.moneysavingexpert.com/discussion/comment/82003333#Comment_82003333

I believe the issue is none of the beneficiaries on means tested benefits want to accept their inheritance ( cash or property) thereby jeopardising those benefits.

There is the liklihood that the occupying beneficiary does not have the means to buy out the others even if they wanted to.

I suppose the real question is, if the estate is left unadministered and the property remains occupied by the incumbent beneficiary indefinitely, are the means tested benefits for the non occupiers adversely affected by their respective legal interest in the unsold property.

The benefit system not my bailiwick, so presumably others more qualified can advise in this circumstance.

JD118

Unfourtnatly the person in the property has no means to buy anyone out and due to the nature of the individual is unsure of other surroundings, suffers from mental heath, has had minimal help from social workers, just family.

Three executors the one in house person, one on means tested with own social housing and one on pension credit with social housing

Beneficiary with social housing and pension credit,

No one has disputed having the money side of the will but the house is a issue and no one of us can survive without week to week money or survive on the will money as its to small amount,

Skint_yet_Again

Will left by my late grandfather/father

Sorry for your loss. Are you the grandchild and others the children?

Was the property possibly left in an ipdi trust for the family member to continue to live there?

poseidon1

https://forums.moneysavingexpert.com/discussion/comment/82003366#Comment_82003366

OP you have confirmed what I assumed to be the circumstance of the affected parties.

Let's see what the benefit 'experts 'can surmise where you all stand, based on the estate remaining unadministered and in ' limbo' where the property is concerned.

JD118

Two grandsons two daughters

JD118

https://forums.moneysavingexpert.com/discussion/comment/82003399#Comment_82003399

Not sure what a ipdi is

JD118

It's one of them things that was joked about by my grandfather, one day and all that jazz, I just thought he left us all a drink apart from the relative that lives in the property,I would have loved the 8k to play around with but not if it comes with implications with the property, once I've paid out my own rent etc I would be worse off in the long run and emotional distress throwing my brother out for a couple of quid just not worth it, I don't know where it will all end.

Cubicsrube

https://forums.moneysavingexpert.com/discussion/comment/82003455#Comment_82003455

Others will have the proper legalese but in laymans terms, it means the legal structure (a 'trust') that lets someone live in a property that others have inherited (in whole or part). Does the will say that the house is split between the four of you but with the condition that your brother can continue to live in it?