Inheritance & Benefits / Tax

[Deleted User]

Hi,

I am looking for some advice on Inheritance. My Grandmother is the Executer of her Sisters will and is receiving a sum of money, but as an OAP living on her own she is in receipt of some benefits. Now, I'm sure that those would stop if she received the money.

Is there any way for her to not accept the money for herself, but to nominate someone else?

Thanks

jem16

Not without having the will changed.

fagun

You can make a deed of variation within 2 years of the death that alters the will. Any beneficiaries getting less under the revised will must agree to this variation.

Johnhowell

Deathwish,

Your grandmother would be allowed £16,000 of savings before benefits would be wholly affected. The lower limit is £6000 when some benefits are reduced. But then she would have the money in the bank. Some benefits are not affected by capital sums.

As long as she does not squander (in the eyes of the social services) the money, as it reduces the means tested benefits would eventually return.

Regards,
John