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Deprivation of capital

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By (user no longer on site) OP   
over a year ago

My sister is a carer for her husband who is very ill and isnt expected to last the year out. Now he has life insurance of around 30k. We were chatting over the weekend about when he dies and her finances. Now she is ten years older than me at 61 and has been his carer for just over a year. Before this they both worked all their lives so are not scroungers. She said that when he dies she intends to spend the money on their grandchildren...a noble thought ...here is the but. She will not be working so will be relying on some benefit until she finds employment. So can she gift her grandchildren once hes gone ? Or wait until she finds employment and live off the life insurance ? Im no expert on this sort of thing but i did hear about certain capital rules when i sorted out our fathers care home fees.

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By *hoenixAdAstraWoman
over a year ago

Hiding in the shadows

Hi OP, sorry to hear about your family issues xx

I'm not sure if things have changed, but when my dad died (3yrs ago) & sorting out his estate, my mums pension etc. There was a rule about having savings over £10,000 affected claiming any benefits

Not sure if I can post a link, but Google a site called entitledto

It helped me x

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By (user no longer on site)
over a year ago

It's way too complicated to outline on here, but take a look at "In Trust", may assist.

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By *innie The MinxWoman
over a year ago

Under the Duvet

Or speak to your local Citizens Advice.

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By *iger.10Man
over a year ago

Llantrisant


"My sister is a carer for her husband who is very ill and isnt expected to last the year out. Now he has life insurance of around 30k. We were chatting over the weekend about when he dies and her finances. Now she is ten years older than me at 61 and has been his carer for just over a year. Before this they both worked all their lives so are not scroungers. She said that when he dies she intends to spend the money on their grandchildren...a noble thought ...here is the but. She will not be working so will be relying on some benefit until she finds employment. So can she gift her grandchildren once hes gone ? Or wait until she finds employment and live off the life insurance ? Im no expert on this sort of thing but i did hear about certain capital rules when i sorted out our fathers care home fees."

The capital limit for working age means tested benefits is 16k i.e. if you have over that amount in capital then you are not entitled to means tested benefit. If 30k were to be given away, for whatever reason, then deprivation of capital would definitely be considered as the theory is means tested benefits are exactly that and were only introduced to help someone who haven't the means to support themselves. If however your sister worked prior to becoming the carer, then she may be eligible to Job Seekers Allowance Contribution Based, instead of the means tested version, called income based. This is paid from National Insurance contributions you have paid whilst being employed in the previous two tax years and is paid for six months. Your sisters best option is to seek advice by calling into a Jobcentre Plus office or calling Job Seekers Allowance direct and asking a hypothetical question now to be able to make an informed decision. No names have to be given over a telephone call if you wish to seek advice.

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By (user no longer on site)
over a year ago

Is he too poorly to make a will?

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By *rs Pony n Mr PeachyCouple
over a year ago

Widnes

We were in this position last year and through having an amazing solicitor we were able to prove that we had not deliberately used the deprivation of capital rule when we spent anything.

Happy to talk about it but not on FAB so I’ll send my details to you

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