Trust fund/ inheritance

happy_dog
happy_dog Community Member Posts: 3 Listener
edited January 2024 in Benefits and income

I’m on UC with the LCW component and also receive housing benefit.  I do manage to work remotely on a part time basis but am not well enough mentally or physically to work full time.

My parents are elderly and are currently sorting out their financial affairs.  They would like to leave half of their estate between my sister and I and I would like some advice on how to deal with this issue.  Is there anyone who can provide me with some good financial knowledge on this matter?  Obviously, I still want to be able to claim benefits. Thanks.


Comments

  • Rosie_Scope
    Rosie_Scope Posts: 8,927 Online Community Team
    edited January 2024
    Hi @happy_dog welcome to the community. Hope you're doing well today :)

    Unfortunately for the means tested benefits, I don't think there aren't many ways around this kind of thing as there are limits on how much you can own and still be eligible. If you came into money, it's likely that the DWP would expect you to live off this instead until you're back under the limits.

    You could perhaps try contacting Citizens Advice to see if they can advise whether there would be anything you could do. Or Turn2Us also have an advice finder, there might be someone local who could offer some impartial legal advice too.

    Do you think you would be eligible for PIP? 
  • poppy123456
    poppy123456 Community Member Posts: 64,375 Championing
    Yes it’s possible for any inheritance to be put into a trust fund and it won’t affect any means tested benefits. 

    However, this will need to be done before they pass away and this would need to be included in their will. I can’t give you any specific advice regarding this because I’m no expert. I would think the best place for advice would be a solicitor. There’s some information here https://www.mencap.org.uk/sites/default/files/2020-05/MTC_booklet_WEB.pdf


  • Rosie_Scope
    Rosie_Scope Posts: 8,927 Online Community Team
    I didn't know that, thanks for correcting me, Poppy! 

    I think getting some legal advice is probably a good shout to make sure everything is done properly. Hope you're able to get it sorted @happy_dog :)
  • happy_dog
    happy_dog Community Member Posts: 3 Listener
    @poppy123456 This is helpful advice, thank you.
  • happy_dog
    happy_dog Community Member Posts: 3 Listener
    Rosie_Scope said:

    You could perhaps try contacting Citizens Advice to see if they can advise whether there would be anything you could do. Or Turn2Us also have an advice finder, there might be someone local who could offer some impartial legal advice too.

    Do you think you would be eligible for PIP? 
    Hi Rosie_Scope

    Thanks for your comment.  CAB haven't been able to give me alot of advice but I haven't tried Turn2Us yet so I'll contact them.

    I didn't score enough points for PIP unfortunately.  

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