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Brisbane-Lawyer
Brisbane-Lawyer, Solicitor - Admitted 2005
Category: Australia Law
Satisfied Customers: 14361
Experience:  I did my law degree at the University of Queensland
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I am 63 years old and on a Disability Support Pension, my

Resolved Question:

I am 63 years old and on a Disability Support Pension,
my husband is 72 years old and on an Aged Pension.
My Mother passed away and her home was sold. I would
like to know how much money, asset wise, is allowed in
the bank ?
The money was left to me.
Submitted: 7 years ago.
Category: Australia Law
Expert:  Brisbane-Lawyer replied 7 years ago.
[QUOTE]I would like to know how much money, asset wise, is allowed in the bank ? The money was left to me.[/QUOTE]
Did your mother have a Will?

If so, who was the executor under the Will?
Customer: replied 7 years ago.

Alex, yes my Mother did have a Will.

My Brother and I both are Executors, everything was done properly and

finalised by her Solicitor.

Expert:  Brisbane-Lawyer replied 7 years ago.
Then there would be no problem placing the proceeds of the estate in your bank account. There is no limit to how much money you can put in your bank account.

If my answer has been helpful or informative, please press Accept. I am also able to answer further questions after accepting.
Customer: replied 7 years ago.

Alex, you have misunderstood my question, all I would like to know is,

how much money I 'm allowed by Centrelink to have in the bank, when we're on the

two pensions mentioned above, as it came from my Mother's Estate.

Sorry to have confused you and not explained the situation better.

Expert:  Brisbane-Lawyer replied 7 years ago.
I see.

If you are on the Aged Pension you are allowed up to $252,500, above that and you will only be eligible for a part pension.

Edited by Alex on 12/1/2009 at 9:33 AM EST
Customer: replied 7 years ago.

Alex, Does this apply to the Disability Support Pension Asset Test

and the Asset is cash in the bank ?

Do I have to notifiy Centrelink ?

Expert:  Brisbane-Lawyer replied 7 years ago.
Yes, and yes. Unfortunately you do have to notify Centrelink.
Brisbane-Lawyer and other Australia Law Specialists are ready to help you
Customer: replied 7 years ago.

Thank-you Alex, your help has been professional and most appreciated.

I would be very happy to use your services again. Shirley

 

P.S. I'm not quite sure if I'm doing the payment right,

Paypal alread took $48-00, but the rest of your

Form is confusing.