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Jo C.
Jo C., Barrister
Category: Law
Satisfied Customers: 70712
Experience:  Over 5 years in practice
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WE ARE PENSIONERS LIVING IN A COUNCIL BUNGALOW ON PENSION CREDIT.

Customer Question

WE ARE PENSIONERS LIVING IN A COUNCIL BUNGALOW ON PENSION CREDIT. I AM 84 AND MY WIFE IS 70. WE HAVE £7,000 IN SAVINGS BUT WILL UNEXPECTEDLY INHERIT £10,000 INTHE NEXT FEW DAYS. WE NEED TO BUY A CAR WHICH SHOULD THEN BRING OUR MONEY DOWN AGAIN TO UNDER £10,000. AS THE INHERITANCE MONEY WILL ONLY BE IN OUR ACCOUNT FOR A FEW DAYS, WILL THIS AFFECT OUR BENEFITS, PLEASE?

Submitted: 3 years ago.
Category: Law
Expert:  Jo C. replied 3 years ago.
Hi.

Thank you for your question. My name is ***** ***** I will try to help with this.

You do need to declare it I'm afraid even if you only have it for a short time. However, if this is pension credit then capital of up to £10k is ignore so that will make no difference.

If you are getting housing benefit though then they would be interested in anything exceeding £6k.

They will not remove your benefits but they may reduce them. Whether they would accept the purchase of a car or not as legitimate is another matter. They may do so.

Can I clarify anything for you?

Jo

Jo C. and other Law Specialists are ready to help you
Customer: replied 3 years ago.

Hi Jo,


 


Just to say many thanks for your reply which has clarified the situation for us, we are most grateful.


 


Regards,


Neil.

Expert:  Jo C. replied 3 years ago.
No problem and all the best.

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