I have had to retire from work due to my stroke. My pension lump sum will go over the £16,000 savings cap. I am currently staying at another property as the property I own is inappropriate due to my disability. I want to use the lump sum to make improvements to my house and gift my carer who’s let me stay at their property. Does anyone know the legalities over doing this? Thanks
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Your best bet is to contact DWP about this as some/all could be considered a deprevation of capital i.e. the gift highly likely would be. Alterations & repairs to your house might be considered reasonable (or at least some might). Although if you’re not living in it that would likely be viewed differently. Have a look at this link it gives examples that might help.
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This is a great article. I am looking to get back home, the stroke has left me paralysed on the left. My home is currently unliveable, it needs a lot of work and I am waiting an assessment as to whether it can be adapted for me to go back, I am hoping this this money can be used to update it to make it possible to get home. I’m currently living in a property rent free and getting free care and wanted to pay for that, I can see how it might look but thank you for this information it is very helpful
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