I’m sorry?
This seems like a case for a financial planner or solicitor where all the relevant information can be discussed including the sons long term needs and role of siblings.
How can parents leave funds for their child to purchase a property, without it affecting that child's state income? (disability allowance)
- Thread starter ManagingFinance
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I’m sorry?
This seems like a case for a financial planner or solicitor where all the relevant information can be discussed including the sons long term needs and role of siblings.
So now the property is part of their pension so another piece of important information only added 20 posts in?
Steven Barrett
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Many people use that term as it is an asset to provide them an income in retirement, not that their ARF owns the property. That is the way I took it, especially as the son wouldn't be able to rent it off him if it was owned in an ARF.
ManagingFinance
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Correct.
If anyone is in a position to provide more information on this "trust"?
As that seems to be the forthcoming viable mechanism to meet the needs of the situation.
Or should I just start a new thread on "trusts"?
Did you search for and read existing threads on trusts here on Askaboutmoney?
Searching askaboutmoney
Since we switched our hosting provider the inbuilt search system should be working better. I would be interested in getting feedback on it. Up to now, I have used Google to search askaboutmoney entering the following site:www.askaboutmoney.com Investing for children Using the default...
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Relevant article in the Irish Times at the weekend:
Why should inheritance cost my special needs son his State supports?
The level of entitlement of some people is staggering. I don't understand how anyone could think that people who inherit a large amount of wealth should still get welfare supports.
Okay, so he is getting Disability and his parents are getting tens of thousands in State support in order to house their son. Now they are worried about him losing his Disability for a few months when he inherits hundreds of thousands from them tax free? I think they need to have a good talk with themselves.
No I don't think you should start another thread. The house the son lives in, in a bad area, owned by the parents, should be sold now and a new property suitable to his needs purchased, and suitable to his deteroriating health. An easy to maintain property.
The property can be left to him as a life interest, no ownership, and goes to his siblings on his passing. Provision should be made for the upkeep of the house if the son is incapable or will become incapable. The first step is to go see a solicitor.
Other than housing, what are his other 'needs' ? Parents should write everything down before they go to a solicitor.
Good article for anyone who has a young or adult child with a disability that is severe enough to limit their life in some way. People in receipt of disability benefit are not like the majority of us, they typically can’t work and need lifelong support. So many older parents who care for disabled loved ones are in a very difficult situation, some are fortunate enough to own their home and that can cause issues for their child when they’re gone. Many disabled adults are unlikely to be able to deal with a will, probate, revenue etc. and siblings (if there are any) have to step into the place of parents even though it’s not their responsibility to be full time carers.
Trying to set things up to ensure a disabled child will be looked after when older parents die must be hugely stressful for families.
I agree, but in this case it looks like the means are available to do so but the parents are more interested in gaming the system.
Brendan Burgess
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@Purple
Agree with you.
It's not individual greed. It's just that we have come to expect the state to provide us with everything whether we can afford it or not. Those of us who can afford to pay, should do so. It's similar to wealthy people asking how they can qualify for the Fair Deal Scheme.
And one of the disability charities claimed discrimination when people on disability benefit wouldn't qualify for the Basic Income for Artists Scheme. One social welfare payment wasn't enough - they wanted two.
Agree with you.
It's not individual greed. It's just that we have come to expect the state to provide us with everything whether we can afford it or not. Those of us who can afford to pay, should do so. It's similar to wealthy people asking how they can qualify for the Fair Deal Scheme.
And one of the disability charities claimed discrimination when people on disability benefit wouldn't qualify for the Basic Income for Artists Scheme. One social welfare payment wasn't enough - they wanted two.
How so? They have a rental property that their disabled adult son lives in. Presumably the parents pay tax on the rental income no matter who the tenant is. If it was let to someone else, the son would have to be provided accommodation by the state along with other supports that disabled citizens are entitled to.
From the info in the OP, the adult son needs continuing support. His needs are separate regardless of whether his parents and siblings are wealthy or not.
There’s a big difference in able-bodied and mentally well individuals compared to people with a disability imo. Obviously a person with a disability can’t afford to provide for themselves but definitely agree that a person with the ability to work and earn shouldn’t need the state to provide for them.
Why do you think that?
That's what I'm talking about; a family can afford to provide accommodation for their family member but they could choose to rent out a property and then expect their neighbours to pay for additional accommodation for their family member. That's gaming the system.
Do you think that the State (other people) should fund the provision of services and accommodation for people with disability no matter how wealthy their family is?
In other words do you think that the State should take money from poor people and give it to rich people?
Plenty of people with disabilities work for a living and provide for themselves.
The OP said the son has continuing needs. If a person with a disability works and provides for themselves, why would parents be trying to sort out ongoing care for them after they die?
Of course some people with disabilities work, my point was for those who can’t, those situations cause a lot of stress and worry for parents about what will happen after they die.
The disabled adult’s situation has nothing to do with their parents. State support is means tested on an adult individual - not on their parents.
Unless you think a disabled adult person is not autonomous purely because of their disability.
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