Living off inheritance

Trayr111

Hi all. 
So the house my father left seem too expensive to bring upto living in standards, needs re wiring, plumbing jobs etc. So I'm now thinking of selling. I know I will have to live of the money, but how much per week am I allowed? And do I have to report all my spending? 
Any help is appreciated. Also if anyone knows if I could get my inherited house up to living standard via grants, that too would be even better as I don't really want to have to sell it 🙄

woodbine

I'm doubtful you will find grants, and it depends what benefits you currently claim re:reclaiming.

poppy123456

Whether it affects any benefits you're already claiming will depend on which benefits it is. Means tested benefits will all stop if you have savings/capital of more than £16,000.

What benefits are you claiming exactly? Unfortunately, i'm not aware of any grants for this sort of thing.

Trayr111

I am on income based and I am aware I will have to live off it, what i want to know is will there be a weekly amount I'm meant to use? 

poppy123456

There's no weekly amount that you can spend. There's no definition of deprivation of capital. However, if you do buy new items for your home and you buy the most expensive things then DWP could question this. When you do come to reclaim benefits in the future, they may ask for bank statements.

Is the property currently yours? if so are you living in it now? If not then you will need to report the changes to the department/s that pay your benefits. If it's up for sale it can be disregarded for 26 weeks, sometimes longer but they will likely want some proof that it's up for sale. A decision maker will need to make the decision on disregarding it while its being sold.

Adrian_Scope

@Trayr111, another option might be to sell it and buy a smaller property or one in another location. It might be worth you speaking with an expert to see if there are other options for you.