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wanton
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Not wishing to sound cheeky or nasty, but look at it from the other side of the coin-The taxpayer.

 

You are getting a not insignificant sum of money in inheritance. You propose (wisely I think) to pay off your mortgage. But you want to keep all the added benefits you receive off the state as well. It reads that you will have approx £32k left once the mortgage is paid.

 

If at this point the property isn't suitable as is, sell it and move into a similar priced one that is.

 

You could buy a Dacia Duster 4x4 with 7 year warranty for just over £10k. Over 7 years even if it depreciates to £1000 it will still be a lower depreciation than on your £18k 1 year old car.

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The reason why working age benefits are treated differently on this matter than pension age is due to the need to be sensible and logical about future prospects. an unemployed 40 year old is expected to be able to get a job in the near future which would enable them to continue paying off a mortgage, therefore it is reasonable to expect the 40 year old to live off of the inheritance or savings rather than paying off a mortgage. A pension age claimant is not expected to work full time, therefore there is expected to be little opportunity to pay off the mortgage through anything other than benefits (if that is what is already being claimed), so paying off a mortgage from an inheritance will actually save public funds in the long term.

We hang the petty thieves and appoint the great ones to public office ~ Aesop

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And putting your house into a trust at this stage will not protect it from being regarded as an asset by your social services authority if and when you need a financial assessment unless there is some other beneficiary - but from what you say you seem yourselves to be the beneficiaries.

 

Afraid I agree with GrahamMcLean, you seem to be devoting all your time and energy to extracting every last possible penny from the state.

 

I also wonder about the extent of disability of two elderly people that can manage a caravan.

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Steve

I think you are being slightly unfair here. If someone is entitled to a benefit that is not their fault and to be honest they would be silly not to take advantage of it. If you don't like the system do not take it out on the people who use it , blame the people who made it.

Caravanning is not actually that difficult these days with all the aids that are available , people caravan well into their 70's and even 80's. The only thing we know is that they get certain benefits , we do not know what for . It doesn't have to be something that makes caravanning impossible

Any opinion I give is from personal experience .

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Steve

I think you are being slightly unfair here. If someone is entitled to a benefit that is not their fault and to be honest they would be silly not to take advantage of it. If you don't like the system do not take it out on the people who use it , blame the people who made it.

Caravanning is not actually that difficult these days with all the aids that are available , people caravan well into their 70's and even 80's. The only thing we know is that they get certain benefits , we do not know what for . It doesn't have to be something that makes caravanning impossible

 

I don't blame anyone for claiming the benefits they're entitled to, but it's profoundly offensive when they then scold everyone else for doing the same. It's the "I'm a genuine claimant - the rest of you are scroungers!" attitude that's annoying.

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  • 2 weeks later...
What's a Vulnerable Persons Discretionary trust and what is it for?

 

The Vulnerable Person Discretionary Trust

 

 

This type of trust provides the protection of a standard Discretionary Trust but combines an advantageous taxation regime and allows the Trustees to use the Trust fund to pay for any needs that the vulnerable person may have. There are very wide powers included in the trust, including the ability to pay money to a charity supporting the vulnerable person.

 

Who Is A Vulnerable Person?

 

A vulnerable person is either:

A person who is mentally or physically disabled (called a disabled person)

Someone who is under 18 years and who had lost a parent through death (called a relevant minor)

 

 

A disabled person is a beneficiary who is either:

A person unable to administer his or her property or manage his or her affairs because of a mental disorder within the meaning of the Mental Health Act 1983, or

A person in receipt (or entitled to be in receipt of) of either Attendance Allowance or Disability Living Allowance, by virtue of entitlement to the care component at the highest or middle rate.

 

Regards

 

Andy

We could do with some help from you.

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