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Inheritance & means tested benefits
- Julia
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1 year 7 months ago #278628 by Julia
Replied by Julia on topic Inheritance & means tested benefits
I've been left a surprise legacy by my previous employer. As its way under the 6K cut off point I haven't bothered to inform EESA or HB. I reach State Pension age in 7 weeks and understand that the savings cap alters from 6K to 16K before any benefits are reduced or removed. Is that correct and am I within my rights to keep my legacy information to myself?
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- Gordon
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1 year 7 months ago #278649 by Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gordon on topic Inheritance & means tested benefits
Julia
Providing your total savings and assets remain under £6000 after the payment then there is no obligation for you to contact the DWP.
When you reach State Retirement Age your ESA will stop so there will be no limit on the savings that you can have. If you claim Pension Credit then the limit is £10,000 and there is no upper limit.
Gordon
Providing your total savings and assets remain under £6000 after the payment then there is no obligation for you to contact the DWP.
When you reach State Retirement Age your ESA will stop so there will be no limit on the savings that you can have. If you claim Pension Credit then the limit is £10,000 and there is no upper limit.
Gordon
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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- Sdaniel
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1 year 4 months ago #281107 by Sdaniel
Replied by Sdaniel on topic Inheritance & means tested benefits
But what about if it is in the executors bank account, and the means-tested benefits recipient is one of the executors? Can they still wait until all assets have been collected and then distributed.? Some people seem to be suggesting that this is a problem … for example if some assets have been collected, but still waiting on the sale of property?
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- SELMESG
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1 year 1 month ago #283679 by SELMESG
Replied by SELMESG on topic Inheritance & means tested benefits
I wonder if you found out any more about this as one of our members is in a similar situation?
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- Gary
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1 year 1 month ago #283688 by Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
Replied by Gary on topic Inheritance & means tested benefits
Hi SELMESG
Welcome to the forum.
As a matter of urgency you must change your forum name as it appears you have your email address opening you up to spam and other attacks, see
www.benefitsandwork.co.uk/guides-for-claimants/faq/forum
Unfortunately this question is outside the remit of the forum, I would advise you to seek assistance from your Welfare Rights Organisation; advicelocal.uk
Gary
Welcome to the forum.
As a matter of urgency you must change your forum name as it appears you have your email address opening you up to spam and other attacks, see
www.benefitsandwork.co.uk/guides-for-claimants/faq/forum
Unfortunately this question is outside the remit of the forum, I would advise you to seek assistance from your Welfare Rights Organisation; advicelocal.uk
Gary
Nothing on this board constitutes legal advice - always consult a professional about specific problems
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