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 wouldlike to know how much money, asset wise, is allowed inthe bank ?The money was left to me.
Province: Sydney N.S.W.Australia
[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?
Alex, yes my Mother did have a Will.
My Brother and I both are Executors, everything was done properly and
finalised by her Solicitor.
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.
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.
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.Alex40148.3980503472
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 ?
Yes, and yes. Unfortunately you do have to notify Centrelink.
I did my law degree at the University of Queensland
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.
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