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Inheritance
- simon
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4 years 11 months ago #230467 by simon
Replied by simon on topic Inheritance
Am so worried as you read so much about benefit fraud, and l wish to do the right thing.
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- Gordon
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4 years 11 months ago #230497 by Gordon
If you are concerned then tell them now but you do run the risk of them suspending your benefit.
I do need to make you aware of something that was brought to my attention over the weekend. There is an Upper Tribunal Decision that treats the use of capital (money) to purchase a house as Deprivation of Capital, I haven't seen the Decision myself so it is possible that it is not applicable to your situation but you need to be open with the DWP about what you are doing.
Gordon
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Replied by Gordon on topic Inheritance
simon wrote: Am so worried as you read so much about benefit fraud, and l wish to do the right thing.
If you are concerned then tell them now but you do run the risk of them suspending your benefit.
I do need to make you aware of something that was brought to my attention over the weekend. There is an Upper Tribunal Decision that treats the use of capital (money) to purchase a house as Deprivation of Capital, I haven't seen the Decision myself so it is possible that it is not applicable to your situation but you need to be open with the DWP about what you are doing.
Gordon
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- pomaus
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4 years 11 months ago #230523 by pomaus
Replied by pomaus on topic Inheritance
Sorry to Interject.
But I believe the 52 week disregard applies to inheritance money?
That does not mean you can blow your entire inheritance 12 months and not be subjected to deprivation of capital rules.
If we are talking about significant sums of money, then you might consider seeking legal advice and setting up either a disabled persons trust or discretionary trust.
When capital or property is held in trust it is disregarded for means tested benefit purposes and also protects your home from care costs in the future
But I believe the 52 week disregard applies to inheritance money?
That does not mean you can blow your entire inheritance 12 months and not be subjected to deprivation of capital rules.
If we are talking about significant sums of money, then you might consider seeking legal advice and setting up either a disabled persons trust or discretionary trust.
When capital or property is held in trust it is disregarded for means tested benefit purposes and also protects your home from care costs in the future
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4 years 11 months ago #230535 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic Inheritance
pomaus
I'm not aware of anything in the ESA legislation that disregards an inheritance for 52 weeks but happy to be proved wrong.
To be disregarded a trust must be set up as part of inheritance it cannot be set up by the recipient after they have received the money and qualify for a disregard.
Gordon
I'm not aware of anything in the ESA legislation that disregards an inheritance for 52 weeks but happy to be proved wrong.
To be disregarded a trust must be set up as part of inheritance it cannot be set up by the recipient after they have received the money and qualify for a disregard.
Gordon
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- pomaus
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4 years 11 months ago #230563 by pomaus
Replied by pomaus on topic Inheritance
You can set up a disabled persons trust at any time as long as you meet the criteria disability, i.e claiming PIP.
However, this would mean having 2 trustees to manage and have full control over the trust.
It is an area of law for people with disabilities to benefit from inheritance without having to worry about care costs and future loss of entitlements.
Simon, I would seek some legal advice now, before probate is complete on this matter
However, this would mean having 2 trustees to manage and have full control over the trust.
It is an area of law for people with disabilities to benefit from inheritance without having to worry about care costs and future loss of entitlements.
Simon, I would seek some legal advice now, before probate is complete on this matter
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- simon
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4 years 11 months ago #230611 by simon
Replied by simon on topic Inheritance
l spoke to the solicitors today and l was informed the estate is in trust, this this helps when claiming benefits as am not a trustee thank you all for your support and help
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