Benefits and Inheritance Quandary

Eager_Elephant

Hi lightrider

If the will is changed prior to someone's death then deprivation of capital would be difficult to prove.
I would urge you to think again on this, what if you are well enough int he future and go back to work and could really do with the extra money or what if your children become irresponsible and they inherit the money and then squander the lot, you would be well !!!!!! off. (not saying your kids are awful but these things happen)
If your children do inherit the money and are still living at hoime make sure any savings accounts are in their names because if not it may be assumed that you have access to their money and therefore lose your benefits.

For the OP if her dad is on Pension Credit Guarantee they usually make awards for 5 or 7 years and no changes need to be reported in this time so if you were on Pension Credit Guarantee and sold your house and had equity of £50,000 it would not affect your entitlement until the award period is up.

EE

lightrider

Hi Eager_Elephant. Thanks for the reply.

I don't have any kids to worry about. But yes, I certainly hope that in the future my health improves enough to go back to work or emigrate, which is exactly why I would prefer the money safeguarded. Potentially, my share of the money could go to one or all of my siblings, probably an unmarried sister. Luckily, I have a very trustworthy and generous family so I feel that I would be treated fairly should my situation change. I am well aware of the in-law factor, possibly not quite as trustworthy and generous. :laugh:

I think you're probably right about the deprivation of capital. Who's to say how someone should distribute their legacy?

In many ways this seems the simplest option but it does ask a lot of family. Can anyone suggest another option?

dmg24

lightrider wrote: »

Hi Eager_Elephant. Thanks for the reply.

I don't have any kids to worry about. But yes, I certainly hope that in the future my health improves enough to go back to work or emigrate, which is exactly why I would prefer the money safeguarded. Potentially, my share of the money could go to one or all of my siblings, probably an unmarried sister. Luckily, I have a very trustworthy and generous family so I feel that I would be treated fairly should my situation change. I am well aware of the in-law factor, possibly not quite as trustworthy and generous. :laugh:

I think you're probably right about the deprivation of capital. Who's to say how someone should distribute their legacy?

In many ways this seems the simplest option but it does ask a lot of family. Can anyone suggest another option?

Take the money as intended and stop living off welfare benefits when you don't need to? :rolleyes:

krisskross

lightrider wrote: »

Hi Eager_Elephant. Thanks for the reply.

I don't have any kids to worry about. But yes, I certainly hope that in the future my health improves enough to go back to work or emigrate, which is exactly why I would prefer the money safeguarded. Potentially, my share of the money could go to one or all of my siblings, probably an unmarried sister. Luckily, I have a very trustworthy and generous family so I feel that I would be treated fairly should my situation change. I am well aware of the in-law factor, possibly not quite as trustworthy and generous. :laugh:

I think you're probably right about the deprivation of capital. Who's to say how someone should distribute their legacy?

In many ways this seems the simplest option but it does ask a lot of family. Can anyone suggest another option?

You are asking how to avoid losing any benefit. Why can't you just enjoy the extra money, without feeling as if you are being deprived of something? You will have to be like everyone else and pay your own living expenses because you will have the money to do so.

Be grateful that you live in a country that will give you financial support when you need it but not unnaturally expects you to support yourself when you can.

lightrider

Your replies are completely justified. I agree that we are lucky to live in a country with such an excellent social safety net. I may well simply accept the money if that is how my mother wishes it to be spent. But I approach all things in life by trying to see all the options first and plan accordingly. Few enough things can be anticipated; I try where I can.

I would not be allowed to 'just enjoy the extra money' because the long-term likelihood is that I would be returning to benefits when it was gone. I would be expected to live as frugally as I do now (or so I've been told). That in itself is not a problem but it is a short-term view that smacks of false economy. I'd enjoy being able to blow it having a good time, just like anyone would. But I would also enjoy a more secure future, which is something I was working towards before the unexpected struck.

There are many points of view on this one and I'm not the type of person to take up the debate. I just wish to get good advice, weigh the options and make the best decision I can. I will be approaching the CAB for more professional advice but sometimes it's a good idea to find out a little about what you don't know you don't know first.

dmg24

lightrider wrote: »

Your replies are completely justified. I agree that we are lucky to live in a country with such an excellent social safety net. I may well simply accept the money if that is how my mother wishes it to be spent. But I approach all things in life by trying to see all the options first and plan accordingly. Few enough things can be anticipated; I try where I can.

I would not be allowed to 'just enjoy the extra money' because the long-term likelihood is that I would be returning to benefits when it was gone. I would be expected to live as frugally as I do now (or so I've been told). That in itself is not a problem but it is a short-term view that smacks of false economy. I'd enjoy being able to blow it having a good time, just like anyone would. But I would also enjoy a more secure future, which is something I was working towards before the unexpected struck.

There are many points of view on this one and I'm not the type of person to take up the debate. I just wish to get good advice, weigh the options and make the best decision I can. I will be approaching the CAB for more professional advice but sometimes it's a good idea to find out a little about what you don't know you don't know first.

How rude!

If you wanted 'more professional advice', why did you not go to the CAB in the first place, and not waste our time?

I doubt very much that you would be going to the CAB if we had all agreed with you.

However much you try to dress it up, you are trying to play the system in order to receive benefits when you should be able to use your own finances.

lightrider

dmg24 wrote: »

How rude!

If you wanted 'more professional advice', why did you not go to the CAB in the first place, and not waste our time?

I doubt very much that you would be going to the CAB if we had all agreed with you.

However much you try to dress it up, you are trying to play the system in order to receive benefits when you should be able to use your own finances.

Acknowledging that the advice given on an internet forum should not be completely relied upon is rude? How many times do people here say "you should get advice from the CAB to be sure"? It is recommended earlier in this very thread.

I will repeat only one more time: I am trying to get as much information as possible to make the best decision. A legal decision. Or, put another way, I am trying to provide my mother with the best information I can so that she can do whatever she wants with her money.

I expected this kind of attack but thought it was worth asking in case someone had something to say that was less derisive - even if of an opposing position. I planned to go see the CAB regardless of the general consensus on here, but I hoped that I would be better prepared with more information as a result.

healy

lightrider wrote: »

Acknowledging that the advice given on an internet forum should not be completely relied upon is rude? How many times do people here say "you should get advice from the CAB to be sure"? It is recommended earlier in this very thread.

I will repeat only one more time: I am trying to get as much information as possible to make the best decision. A legal decision. Or, put another way, I am trying to provide my mother with the best information I can so that she can do whatever she wants with her money.

I expected this kind of attack but thought it was worth asking in case someone had something to say that was less derisive - even if of an opposing position. I planned to go see the CAB regardless of the general consensus on here, but I hoped that I would be better prepared with more information as a result.

You seem to have missed the point made by other posters - you are looking for a way to "play" the system which is not what this forum is about.

lightrider

Thank you healy. I withdraw my request for advice.