Inheritance while on Universal Credit: what are my options?

[Stressedmum6761]

Hi everyone! 👋 I'm currently losing my marbles and need to speak to anyone who's been in the same boat.

My nanny passed away nearly 2 years ago now and it's taken a while for her things to be settled and sold etc. My family passed me a letter today addressed to me from my sweet, beautiful nan and a cheque for nearly £12K. I've been in absolute bits all day I keep bursting into tears. I've never had this much in my life and never ever expected anything from my nan at all and it's absolutely thrown me.

The thing is I know I should be absolutely THRILLED with this money, I'm on my own with DD who's 6 now. We've just moved into a council house 2 months ago and I'm on UC top up which also covers my rent, my job doesn't pay well but it's a school job and I get my holidays off with DD. I'm panicking more than anything because I know that as soon as I cash this cheque UC are going to deduct money each month (about £120 if my maths is correct).

My family said they know nan wanted me to put a deposit down on a house, which again I know if I get a mortgage my UC stops and I'm financially liable for the payments and any repairs etc if anything goes Pete Tong.

I'm thinking about just putting most of it in a LISA for now and potentially in the future buying a house...maybe a once in a lifetime holiday with the rest. I'm just torn because if I buy a house, I'll be so much worse off than I am now getting help from UC with rent payments etc. I've just moved into this house and started decorating and making it my own. I'm worried about the money sitting there and me being so scared to spend anything while also having money deducted from my monthly payments. Again, I'm absolutely ecstatic I've got this chunk of money for security but the fact that it's going to effect me whether I spend it or not is flapping me to the core.

What do I do? Has anyone had experience with coming into money while also being on benefits? Thank youuu from a very emotional and stressed mum.

Nope. You've tried all day to pull back with a new narrative about how you never included disabled or LT sick people in your view of UC claimants, including how you felt for them, and how they actually should get more support. That's an attempt at, albeit fake, empathy.

I’ll help you out. It’s not an attempt at empathy.

it’s a clarifying that the crux of my point relates to individuals who can contribute and provide for themselves, should work and provide and contribute for them selves or others, but choose not to and would rather have the government (= other people) provide for them.

Thats 0 to do with empathy.

@Stressedmum6761to save you the effort of replying, as you seem to think my every post is specifically about you: it isn’t. There’s a whole world out there that can be discussed that doesn’t revolve around you :)

Who are the people who "choose not to work"?
Under UC, you are either fit to work, or you are not.
So the people who are fit to work and choosing not to... are they the ones you are talking about? Do you know how much they get in UC?

Stop trying to backpeddle on everything you have written on this thread. You made it very clear your posts were about me to start with, which have been screenshotted and added very kindly above, you then went on a tirade about benefit claimants as a whole.

You don't have a leg to stand on here, please go and enjoy your Friday night and have a think before you chose to type anything else.

Saved me a job there. Literally.

Actually, I forget the the carers. Stuck in the middle and actually get the worst deal out of everyone.

As Xenobitch has already replied to your comment in the same way I would have done, just a note that now starting to try and be so patronising to the OP at the end of that post really isn't going to help you.

I will do, thanks, as I’ve just realised what I’ve been doing must be the definition of insanity: I’ve been trying to have a debate with someone who failed a degree three times and someone who is insistent it’s all about her despite being told it isn’t.

Enjoy your evening also, take care

I'm one, as I've mentioned, and also have a rewarding career BUT as I've also said on this thread if, god forbid, my husband had the third stroke we always fear, I would be at home full time in a heartbeat.

Nice passive aggressive skills.

Not a debate when you're wrong sweetheart. Goodnight and good riddance 👋

OP directly to you- as you've already gathered from some of my posts, I'm a welfare benefits specialist, and employment advice specialist, and would be happy to give you any further advice you might need going forward, feel free to PM me.

I am not after a debate. This thread is on the Money board, and OP was after advice.
I am not really into you telling me how much of a failure I am for not finishing a degree 3 times TBH.

How about giving OP proper advice she can use. No judgement. Are you capable of that?

She had to get passive aggressive because she got proved wrong and threw her toys out the pram. Got a feeling that one has never heard anyone tell her "no" before.

Thank you so much, I'm nodding off as it happens, would I be able to PM you tomorrow please?

Of course- I'm off myself shortly, got to get hubby settled 👍

it’s a clarifying that the crux of my point relates to individuals who can contribute and provide for themselves, should work and provide and contribute for them selves or others, but choose not to and would rather have the government (= other people) provide for them.

That's for a different thread then.
This thread is for someone who is working and providing for herself and child.
I don't think anyone on this thread has said they are choosing not to work and claiming benefits (bloody hard to do that if you are able to work).

This!! With great big bloody bells on!!

Well said.

I’d also add that many low paid roles are absolutely essential so we need people to do them. As a society, we don’t want everyone getting better qualified and moving on to different types of better paid jobs. We need carers, shop workers, warehouse workers, cleaners, etc etc. lockdowns taught us just how many essential roles in society are paid poorly and under valued. We need to pay these roles properly and we need to tackle the wealth hoovering that’s going on at the moment.

It is so fucking sad that a single person working full time in something like a care job, is told they they are a failure for being on benefits and should upskill to get off them.
A NMW job on FT hours should be enough to live on. It is not, and that is fuck all to do with the person in the at job. Most of the time, it is to do with what their landlord is charging them.

Absolutely. It is appalling.

We need a wealth tax. And rent caps. The system is so unfair. The more you have, the more passive income you get, the more assets you buy, the more passive income you get. Meanwhile working people need state support just to get by.

The wealthiest (who are not the biggest tax payers necessarily) are the problem. Not benefit claimants.

Aye, it is easy to punch down. Blame the people with least.

OP have you had any ideas on what you want to do with the money now things have settled a bit? And are you still considering buying a house, or do you like the council house you have got?

If you don’t know what to spend it on yet, look at a generic stocks and shares ISA (with low fees). You can play about with a compound interest calculator to see how much you can expect to earn - 7% annually is what people use generally, Ive always found to be conservative. It should offset any UC deduction and still grow until you’re ready to use it. I wouldn’t fritter any honestly, how likely are you to get this sum again. Have a look at some free resources like Rebel Finance or any of the FIRE community stuff on investing as they have a low fee passive whole market focus. I personally use JP Morgan (nutmeg) for my children’s accounts as it’s simple and done for you, and because I don’t want the money anytime soon, I fix it at about 7 for a risk level.

If her UC is deducted due to savings why are you suggesting the interest will offset these deductions? She needs the UC to support herself. Or have I misunderstood what you mean?

I do not understand some of the attitudes on here. As I’ve said, carers, TAs, etc etc are of course essential and work bloody hard. Most people understand that. But, the fact is, without net contributors there would be no benefits to claim. So when op dismisses them for being “martyrs” who work loads of hours in “big scary” jobs and adds that no one forces them to work loads of hours, and they must be a “Tory”, it’s no better than stating that all benefits claimants are lazy and feckless. We all need each other, but appreciation for both sides of the argument, from everyone, is sadly lacking.