Inheritance

[JessicaRabbit23]

Me again. If you remember 🤣
I have had to come off benefits because of inheritance (rightly so) (executor & sole beneficiary)
worried about a weak potential claim, whilst reading on google I stumbled across something that said don’t spend any of the estate funds for 6 months. Does anyone know how I’m supposed to live? I do have a job but this does not cover my bills.

Does anyone know how I’m supposed to live? I do have a job but this does not cover my bills. Reduce your outgoings and increase your income.

Me again. If you remember You might want to add a link to your previous thread for the context and background info for better advice....

I already work school hours in the week. Minimum wage. Can’t work weekends I have my children.

If the potential claim becomes an actual ones what share of the proceeds could they expect?

Why potential claim? Is there a will? It costs ££££ to make a claim against an estate...

What do you mean don't spend estate funds for six months??

Ah ok, someone is going to claim, ignore me

Well I have had no legal letters but someone found out they was in a previous will then started asking why it was changed. I have no idea as it was nearly 10 years ago.

I’m not quite sure as a revoked will said a certain amount and the newer will was all left to me.

let’s say £40k on the previous will do I just put this aside incase?

The not spending the inheritance for 6 months is a recommendation not a directive. It's in case there is a legitimate claim on the estate such as debts owed by the deceased. Once the money has been distributed it can be hard to get any back. As you are sole beneficiary, this is less of an issue.....unless you're planning to spend it all at once!

The DWP ended up making a claim against my relatives estate. I was executor and main beneficiary. DWP took about 4 months to make the claim which was after I'd distributed. As the main beneficiary by some margin, I just absorbed the costs.

I feel like buying a house so it’s all gone and I can claim UC again at this rate 🤣 then there’s nothing left

honestly I wouldn’t worry too much about this, had similar in my family where an estranged member had been in the will but then taken out a more recent will. They made all sorts of threats and put a caveat on probate, sending threatening letters etc. Then it come to nothing. Any good solicitor would tell them they likely won’t be successful and would be a loss for them. Obviously this is not always the case but the vast majority of the time claims are not successful and they find out that contesting a will be too pricey with a low success rate!

I would spent it if you need it OP!

Thank you. 🙏👍🏻

I would spend stuff if you need it but not any unnecessary spend like holidays for 6 months until you know there’s no issue.

There being nothing left wouldn’t help you if there is a successful claim made because that person would be entitled to their money so you’d have to sell the house to give them it. Not wise.

Just be modest in what you spend. Set aside a chunk for possible debts and another chunk for whomever is cranky that they have been written out on the off chance they actually try to do something. You'll worry less if you have a cushion.

Take a look at the finances of the person you've inherited from. Likely you're looking at their bank statements in any case so that you can shut down any direct debits they have that are no longer needed (subscriptions etc). Look for the regular incoming payments that might need to be paid back (monthly pension payments paid in advance etc). That will give you an idea of what you might need to pay back in possibly a few months from now.

Hope you get to enjoy some of your inheritance without too much worry.

A link to your previous thread would be helpful. Who left you the money and who is trying to claim some of it?

I mean, that's one approach 😁. But I think we all know the government will pursue you beyond death if they think you owe money.

Someone more knowledgeable than me may chip in but I don't think it's depravation if you do buy a home to live in.....but if money is found to be owed, you would still need to pay it.

There's no official claim.

There may never be an official claim.

Just carry on as you would until you hear otherwise.

I don't know how many Jessica Rabits are on here. What happened before?

There was a will naming 2 beneficiaries. OP and one other person. After some years he made a new will, revoking the old one and this time there was only 1 beneficiary which is OP.

The first will, which had been revoked, was accidentally uploaded for probate. The original 2nd beneficiary saw this so they knew that they had originally been a beneficiary.

Now that the second will, the legally valid last will and testament, has been uploaded, the 2nd beneficiary from the first will has realised that they are not getting anything.

They are threatening to make a claim against the estate which is what OP is worrying about.

However, they cannot win any claim as the first will was legally revoked and the second will is therefore valid.

OP should ignore them completely.

Ignore their threats and buy the house. If the first will was legally revoked and the 2nd has gone through probate, I would just crack on with your life.

I’m struggling to understand why you have to work school hours. Most working parents work 9-5 and use breakfast / after school clubs.

Because that’s the point of this post … 🙄

Most working parents work 9-5 and use breakfast / after school clubs.

@Firry do you have any data to back this up?
Whilst the % of mothers with young dc working ft has increased the majority still do not work ft. How on earth have you deduced the majority work 9-5?!

As a pp said, it’s just a recommendation - I would just maybe hold back on any big luxury spends for a while but you should at the very least spend the value of your benefits you’ve lost so as not to impact your standard of living.

Thank you 😀 feeling a lot more positive as the weeks go on.