Hi,
My Parents ( Dad 68, Mum 63) are due to receive a payout on their maturing endowment Approx £16,000 + Bonuses.
They have for a long time been unable to work through disability, so are in receipt of benefits, state pension, pension credit and disability living allowance and carers allowance. They get their rent paid by the council and have no other savings.
They are due to receive this within the next year but are worried how the money will affect there normal benefits. They are already on the poverty line and are not really up to the job of dealing with all the changes and confusion.
Is there any way that this endowment can be given away to family or be put somewhere and not affect there current benefits?
Thanks for the help.
Neil
My Parents ( Dad 68, Mum 63) are due to receive a payout on their maturing endowment Approx £16,000 + Bonuses.
They have for a long time been unable to work through disability, so are in receipt of benefits, state pension, pension credit and disability living allowance and carers allowance. They get their rent paid by the council and have no other savings.
They are due to receive this within the next year but are worried how the money will affect there normal benefits. They are already on the poverty line and are not really up to the job of dealing with all the changes and confusion.
Is there any way that this endowment can be given away to family or be put somewhere and not affect there current benefits?
Thanks for the help.
Neil