Benefits/savings

[AliceS]

Does anyone have any experience of how to handle savings? We live in a 1 bed housing association bungalow, work 15 hours between us (we're a couple) and save as much money as possible. We have just started getting housing/council tax benefit. We have just found out that we have been left an amount of money in a will which will take us over the savings threshold for benefits (we haven't received the payment yet). Does anyone have experience of this? I'm assuming we whittle away the legacy on rent/council tax until we're poor again.

[AliceS]

We're thinking of an easy access ISA so that it lasts as long as possible.

[Nigel-2112]

I am unsure so I would check with a benerfits advisor, but if you could put it into a pension fund so it is locked away until you are able to access it, which would have the effect of stopping it being whittled away, but you would give up any short term benerfit from the will, but should preserve your benerfits.

[AliceS]

Thanks Nigel. I'm not sure where to find a benefits advisor-do you know who could help me?

[nana23]

hi AliceS, most CAB offices have a welfare benefits adviser attached to them and if not they will normally find someone who can offer advice to you xx

[AliceS]

Thanks, we'll do that.