How does inheritance affect the Susi Grant

lop11 · 21-05-2015 6:26pm #1

I'm going in to Second Year now and one of my parents will receive an inheritance of ~25000.

Will this be counted as normal income and push me out of the range of values for grant entitlement?

katydid · 21-05-2015 9:14pm

lop11 wrote: »

I'm going in to Second Year now and one of my parents will receive an inheritance of ~25000.

Will this be counted as normal income and push me out of the range of values for grant entitlement?

I THINK the grant is based on the income from the past year, so if there is an issue, it shouldn't kick in until next year. Gives you time to check it out.

Sup08 · 21-05-2015 11:11pm

lop11 wrote: »

I'm going in to Second Year now and one of my parents will receive an inheritance of ~25000.

Will this be counted as normal income and push me out of the range of values for grant entitlement?

It is not counted as reckonable income once evidence is shown that it is inheritance.

lop11 · 22-05-2015 3:08am

Sup08 wrote: »

It is not counted as reckonable income once evidence is shown that it is inheritance.

This info is absolutely brilliant. Thank you. Was kind of worried.

Sup08 · 22-05-2015 8:03am

lop11 wrote: »

This info is absolutely brilliant. Thank you. Was kind of worried.

I must mention in the unlikely event that the inheritance is not from a family member it maybe reckonable

For instance, if the inheritance is from a former employee, employer or customer of the recipient then it may be reckonable.

Monies inherited from family or extended family is not reckonable.

lop11 · 22-05-2015 9:32pm

Sup08 wrote: »

I must mention in the unlikely event that the inheritance is not from a family member it maybe reckonable

For instance, if the inheritance is from a former employee, employer or customer of the recipient then it may be reckonable.

Monies inherited from family or extended family is not reckonable.

Thanks a million.

Buck Turgidson · 28-06-2015 1:31am

From our direct experience, inheritance (from direct family member) IS taken as 100% reconable income by SUSI, so OP you may have a problem, as we have.

28-06-2015 2:15am

Hi iop11 and Buck,

Why not use the inheritance to put towards the cost of the education.

Seems like you both have received a helping hand, albeit not from susi

Buck Turgidson · 28-06-2015 2:47am

Deleted User wrote: »

Hi iop11 and Buck,

Why not use the inheritance to put towards the cost of the education.

Seems like you both have received a helping hand, albeit not from susi

Wow, thanks Brother Andy, (and Eternal)
I never thought of it like that.
Worthwhile contribution there.

Sup08 · 28-06-2015 8:06am

(6) If any of the persons whose income is under consideration received gifts or inheritances in the reference period, these are included in reckonable income, unless—
(a) in the case of an independent student, the gifts or inheritances were between the applicant and his or her spouse, civil partner or cohabitant;
or
(b) in the case of a dependent student, the gifts or inheritances were between parents or to the applicant from his or her parent(s).

If anyone who has reckonable income receives gift or inheritance from their parents the income is not reckonable.

katydid · 28-06-2015 10:27am

Buck Turgidson wrote: »

From our direct experience, inheritance (from direct family member) IS taken as 100% reconable income by SUSI, so OP you may have a problem, as we have.

It's not Susi, but many years ago, when I was in college, one of my friends was getting a grant, and lost it one year because her father had inherited money from an uncle the year before.

Somehow I doubt they have eased up on that ruling.

Buck Turgidson · 28-06-2015 2:04pm

(b) in the case of a dependent student, the gifts or inheritances were between parents or to the applicant from his or her parent(s).

If anyone who has reckonable income receives gift or inheritance from their parents the income is not reckonable.[/quote]

Thanks for the reply. I initially read this to mean that I could inherit from my parents and it wouldn't change my reconable income on my kids application, but I see now that I was wrong?

lop11 · 28-06-2015 3:16pm

Deleted User wrote: »

Hi iop11 and Buck,

Why not use the inheritance to put towards the cost of the education.

Seems like you both have received a helping hand, albeit not from susi

Hi Andy.

I didn't receive the inheritance, one of my parents did. I'm not on good terms with this parent however, and I don't believe I'd be able to convince them to provide me with any sort of finance.

Thanks for the advice though.

eviltwin · 28-06-2015 3:21pm

Buck Turgidson wrote: »

From our direct experience, inheritance (from direct family member) IS taken as 100% reconable income by SUSI, so OP you may have a problem, as we have.

+1.

We received a small inheritance from someone this year and it pushed us over the limit.

Jamiegirl · 23-07-2015 12:52pm

So if my mum inherited 90k this year from her own mother then I will not be eligible for a student grant for next year. This means no maintenance grant, student contribution grant and no tuition fee grant. In other words I have to find at least 10k am I reading this correct?

katydid · 23-07-2015 2:26pm

Jamiegirl wrote: »

So if my mum inherited 90k this year from her own mother then I will not be eligible for a student grant for next year. This means no maintenance grant, student contribution grant and no tuition fee grant. In other words I have to find at least 10k am I reading this correct?

On the assumption, presumably, that your mother now has enough money to support you in your education... That's the way it works for thousands of students every year.

Jamiegirl · 23-07-2015 2:38pm

I'm not complaining, I just like to know where I stand that's all. My mum lives on a very low income and has used the money to buy a small property as she prevously rented.

katydid · 23-07-2015 2:44pm

Jamiegirl wrote: »

I'm not complaining, I just like to know where I stand that's all. My mum lives on a very low income and has used the money to buy a small property as she prevously rented.

Fair enough. But unfortunately if your parents have any money, you have to accept that they are expected to help finance your education. We weren't well off, but because my dad was a paye worker, we were just over the limit and I never got a penny help.

drummyel · 16-06-2023 2:30pm

If anyone who has reckonable income receives gift or inheritance from their parents the income is not reckonable.[/quote

Does this count if its the parent that received it from their parent I received a small inheritance from my mother I got a newer more reliable car for work and paid some bills as I've always been a struggling single mum but the thought that it has pushed us way over the limit for my daughter going to do her master's is so depressing it was a relief to get rid of backedup bills and have a car that won't break down but the thought of her now being unable to achieve her master's is soul destroying of course if I have to sell the car I will but will probably loose money doing that too especially as it was a once off never to be got again inheritance that my parents had paid in taxes all the life to achieve

maggie magoo · 10-02-2024 8:20pm

I know this is an old thread but wondering if anyone knows if the date of inheritance goes by the date of death, which is on Revenue's CAT form? Due to different circumstances there was a delay in receiving inheritance & submitting CAT form to revenue and there's nearly 5 years since date of death but submission went in 2023 - wondering if it will affect son applying for grant this year. Inheritance mine, not his. Thanks.

Firblog · 10-02-2024 8:51pm

AFIK the date of inheritance is reckoned to be is the date that the money was distributed by the executor of the will.

maggie magoo · 10-02-2024 9:26pm

https://www.boards.ie/discussion/comment/121751443#Comment_121751443

Thank you. I'll check it out but just wanted to get an idea.

How does inheritance affect the Susi Grant

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