inheritance

topper

Hi. I will be due some money from an inheritance that if paid to me in full would take me over the£ 16000 .I understand that you have to report this if its over 6k, and  16k and over you wont get uc .The amount counts on your last day of your assessment .

As I'm not the best at handling money I have been told I could get paid every few mths at a rate of 5k .until all cash paid £35k. Do I have to tell dwp  the full amount I will get or as it comes in to my account? asking as until any money is in my account I have no access to the money . So would not want my uc to stop until I have over the amount  I need to declare. I don't want to hide the money or have money from dwp that I'm not entitled  to have . At the same time I don't want them knowing  if they have no need to know .  

poppy123456

There’s a high risk that this will be classed as deprivation of capital so I wouldn’t advise doing it this way. DWP will eventually find out about the inheritance so you do need to report it.

If you have any debts to pay off then you can do that without it affecting your UC.

If you’re claiming council tax reduction then you also need to report the changes to your local Authority. 

topper

Thank thank you. As I said I have problems dealing with money , and seen that the people who pay out after the will can if they recognise that someone may have issues with money they can pay them in instalments.

So I just wanted to know that at the point that the money is to be paid out do I say the full amount I’m due regardless as to whether I have access to it? As what I wanted to do is each time they pay me 5 k I intend to pay 1 loan then next time same with loan 2 . Then a few minor debt. So after that the amount that is left could be transferred to my account and I would report that to Dwp as then what is left would be mine and count. 

poppy123456

Unless the money is left to you in a trust then you can’t just have £5k each time and not report the whole amount. That’s not how it works. DWP will eventually find out about the inheritance so you do need to report it. 

topper

Thank you.