I am considering giving my inlaws a small covenant of say 3000 euro.
But I am just wondering if that would effect their benefits in any way.
Both over 65, living in a council house (i.e subsidised rent), no income bar the normal pension and they hold a medical card.
Any information would be appreciated.
If it is a means tested pension, there is a good disregard before pension would be affected. A rule of thumb is that a person loses one Euro of pension for every thousand Euro capital AFTER disregard is deducted so 3000 would not affect them too much in worst case scenario, i reckon.
It is - if you can post details of the specific schemes through which they are getting money at the moment and then you can check the qualifying criteria (including any means testing) that apply and see how the covenant income would affect these.