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Benefits and inheritance.

Posted: Tue Jan 29, 2019 12:54 pm
by Julian_1901
Im currently a carer for my wife, have been for many years. Bobbing along in a carers bubble. Lost my job,house,physical and mental health is deteriorating.

Rent privately, on carers, wife on DLA daughter on top level pip.wife been given a 50% chance of surviving 2 years. 💔

Dad passed recently leaving a share of a house,value 50k ish.
Questions. How does this effect benefits? No HB poll tax for sure. What about Esa, child tax credits carers pip dla?

Secondly if i were to invest in a buy to let property work part time and move to a cheaper property what benefits would i be entitled to with an additional income coming in.

Anyone with any unconventional suggestions on capital retention? Ideas most welcome!

Re: Benefits and inheritance.

Posted: Tue Jan 29, 2019 12:59 pm
by bowlingbun
A few quick questions, to make our replies a bit more accurate.

Did dad make a will?
Has it gone to probate?
Have you actually got the money?
How old is your daughter, and what is the nature of her disability?

Re: Benefits and inheritance.

Posted: Tue Jan 29, 2019 1:02 pm
by Chris From The Gulag
Hi Julian ... welcome to the canteen.

Sorry to learn of your , and your's wife's , present predicament.

Okay ... inheritance whilst claiming benefits ?

First stop , a legal view ... a real heavyweight one at that :

https://www.forbessolicitors.co.uk/blog ... ulnerable/

A whole host of other sources , many with guidance on other forums.

Intenet search ... ON BENEFITS RECEIVING AN INHERITANCE.

Worth exploring a few to get a bigger picture,

Change of circumstances ?

DWP ... the DoleMan's domain ... best to see what you need to do to keep him at bay :

https://www.gov.uk/report-benefits-change-circumstances

Future plans ?

Classic " What if " scenario ... time to crunch some figures and assumptions through an online benefits calculator :

https://www.gov.uk/report-benefits-change-circumstances

The more you feed it , the more numbers will be revealed ... which one produces the best result ... for you and your family ?

The BTL angle is interesting ... even with recent changes in taxation , and with those in the pipeline ????

Not as attractive as a few years ago ... outside the scope of this forum to expand anymore on this.

That's enough for you to explore as a first priority.

Once you have digested what's on those links / searches , feel free to bounce anything else off us on the forum.

There is hardly anything out there that , at least , one of us or more have not encountered.

Re: Benefits and inheritance.

Posted: Tue Jan 29, 2019 4:27 pm
by Julian_1901
Chris. Thanks so much,learnt more in 5 mins of reading youre post and links than the previous weeks.
Regarding BTL thinking of HMO and a guarantee rent scenario. Tax changes are worse for top rate tax payers and expensive homes...
🎳 bun.
Probate was sorted last week and property put on the market this week. Dads will was simple. Property to be sold and split between 6 kids. 45/50k each.
Regarding my daughter she is autistic with learning difficulties. She is 18 im not sure i can see her ever being independent.

Re: Benefits and inheritance.

Posted: Tue Jan 29, 2019 4:36 pm
by Chris From The Gulag
Your welcome , Julian.

I'm in the wrong place ... not even a garibaldi ... others out there will charge you £ 100 per hour ... for three minutes work ?

There again , another firm of solicitors might print off that info in the first link , add their name , and then charge you £ 200 per hour ... £ 300 in London !

Investing ?

Feelin' lucky , punk ?

Outside the scope of this forum.

ALL bets are off if it's to be the wrong flavour of Brexit ... is any flavour palatable ?

ps. Don't forget to keep the DoleMan happy , miserable old whatsit at the best of times !

Don't curse me if those numbers aren't as big as first thought ... it's a freebie online benefits calculator !!!

Re: Benefits and inheritance.

Posted: Tue Jan 29, 2019 5:16 pm
by bowlingbun
I only found out too late, that under certain circumstances a will can be "varied" for 18 months after the person concerned has passed away. As you do not yet actually have the money, then it might be worth consulting a solicitor about what to do.

(My own son will be 40 next month, brain damaged at birth he can't read, write, or do any maths).

Re: Benefits and inheritance.

Posted: Tue Jan 29, 2019 6:39 pm
by Julian_1901
Chris if we ever bump into each other i will definitely buy you a coffea and biscuit.

🎳 bun that is really intriguing. I have 4 kids so moving some of Dads money to them may be an option?
I worry for the future financially hence looking at investments. My wife more short term. Let's get a caravan and tour all summer.

Re: Benefits and inheritance.

Posted: Tue Jan 29, 2019 6:40 pm
by Chris From The Gulag
Do you suffer from nightmares ???

Re: Benefits and inheritance.

Posted: Tue Jan 29, 2019 8:06 pm
by Julian_1901
No Chris.

Re: Benefits and inheritance.

Posted: Tue Jan 29, 2019 8:12 pm
by Chris From The Gulag
Meeting me akin to a nightmare ... even when you're awake.

My coffee drinking and biscult eating feats are legendary !