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TOPIC: Inheritance

Inheritance 5 months 3 weeks ago #230614

I think the trust must be discretionary in order for any income to be exempt if your claiming income related benefits. The claimant should be within the class of beneficiaries to which the Trust relates.
This is very a very technical area of Trust Law to which specialist legal advice should always be taken.

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Inheritance 5 months 3 weeks ago #230648

@ Sarah

That is not actually correct.

There are many types of trust that will be classed as exempt for means tested benefits and care costs including discretionary trusts, disabled persons trusts and bare trusts.
It is all dependant on how the trust is written up.
But yes I agree it is a technical area of law and proper legal advice should be sort.
It costs around £600 + depending on the complexity of the trust
But it is certainly something that a disabled person should consider setting up if they receive a large payment in the form of inheritance or compensation, in order to protect themselves from future care costs if nothing esle

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Inheritance 5 months 3 weeks ago #230763

I would agree with Gordon, you need to notify the DWP sooner rather than later of any inheritence, remember that if you are in receipt of any means tested benefits and you have over £16k in savings then you will no longer be eligible for any means tested benefit.
DLA and PIP are not means tested, so these benefits would not be affected no matter how much inheritence you receive.

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Nothing on this board constitutes legal advice - always consult a professional about specific problems
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