- Posts: 10
× Members
ESA capital
- drewan
- Topic Author
- Offline
Less More
5 years 2 months ago #228027 by drewan
ESA capital was created by drewan
My husband applied for probate about 2 years ago for an estate of which he is sole executor and beneficiary. It comprises a motgage-free bungalow and what was total liquid assets of just over £16,000, but is now just under.The DWP has been informed about the liquid assets situation.
The estate is almost administered, but there is still an executor's account holding some of the money until the estate is fully finalised.
I own a separate flat which is virtually uninhabitable and with little or no equity, which I intend to sell. We are living in the bungalow because I am incapacitated.
We have sought advice from the CAB but have received contradictory advice.
My questions are:
1) Does the equity in either or both of the properties count for ESA capital purposes?
2) Does the final realising of the estate alter the ESA capital position?
Any advice would be very much appreciated.
Drewan
The estate is almost administered, but there is still an executor's account holding some of the money until the estate is fully finalised.
I own a separate flat which is virtually uninhabitable and with little or no equity, which I intend to sell. We are living in the bungalow because I am incapacitated.
We have sought advice from the CAB but have received contradictory advice.
My questions are:
1) Does the equity in either or both of the properties count for ESA capital purposes?
2) Does the final realising of the estate alter the ESA capital position?
Any advice would be very much appreciated.
Drewan
Please Log in or Create an account to join the conversation.
- Gordon
- Offline
Less More
- Posts: 51248
5 years 2 months ago #228044 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic ESA capital
drewan
The first question is what type of ESA are you receiving? If it is Contribution Based ESA only then your ESA is not affected by the money or the equity in either the flat or the bungalow, if you are receiving Income Related ESA in part or in whole then the ESA(IR) will potentially be affected.
If you are living in the bungalow then it will be disregarded as an asset but any equity from the flat will be considered as will the £16,000, the rules for assets and saving are
Asset and savings rule for ESA(IR)
The equity in the flat applies now and you should contact the DWP office dealing with your claim immediately if it, with your current savings and assets exceed £6000, I would not expect the money from the inheritance to be considered until the estate is settled.
Gordon
The first question is what type of ESA are you receiving? If it is Contribution Based ESA only then your ESA is not affected by the money or the equity in either the flat or the bungalow, if you are receiving Income Related ESA in part or in whole then the ESA(IR) will potentially be affected.
If you are living in the bungalow then it will be disregarded as an asset but any equity from the flat will be considered as will the £16,000, the rules for assets and saving are
Asset and savings rule for ESA(IR)
The equity in the flat applies now and you should contact the DWP office dealing with your claim immediately if it, with your current savings and assets exceed £6000, I would not expect the money from the inheritance to be considered until the estate is settled.
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
The following user(s) said Thank You: drewan
Please Log in or Create an account to join the conversation.
- drewan
- Topic Author
- Offline
Less More
- Posts: 10
5 years 2 months ago #228180 by drewan
Replied by drewan on topic ESA capital
Thank you Gordon.
I am on ESA(IR).
I am on ESA(IR).
Please Log in or Create an account to join the conversation.
- Gordon
- Offline
Less More
- Posts: 51248
5 years 2 months ago #228184 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic ESA capital
drewan
So the dwp should already know about the flat?
Gordon
So the dwp should already know about the flat?
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
The following user(s) said Thank You: drewan
Please Log in or Create an account to join the conversation.
- drewan
- Topic Author
- Offline
Less More
- Posts: 10
5 years 2 months ago #228362 by drewan
Replied by drewan on topic ESA capital
Hi Gordon
I don't think so particularly. Until recently it was our residence until my accident necessitated us moving into the bungalow.Does this make a difference?
Drewan
I don't think so particularly. Until recently it was our residence until my accident necessitated us moving into the bungalow.Does this make a difference?
Drewan
Please Log in or Create an account to join the conversation.
- Gordon
- Offline
Less More
- Posts: 51248
5 years 2 months ago #228368 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic ESA capital
drewan
Yes, you must inform the DWP immediately, it is now considered an asset and may affect your ESA payments.
Gordon
Yes, you must inform the DWP immediately, it is now considered an asset and may affect your ESA payments.
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Please Log in or Create an account to join the conversation.
Moderators: Gordon, Gary, BIS, Catherine, Wendy, Kelly, greekqueen, peter, Katherine, Super User, jimmck, Chris