Inheritance windfall/High assets - LOW income

MattsMomFL
Mon, 19 May 2008 11:12:16 +0000

Swimcat, it is odd though that Worksheet B refers to untaxed income such as “railroad retirement benefits” and doesn’t specify inheritance. Well, I’ll get to the bottom of it and report back.

I do think if we were to immediately convert the money to an asset (new primary home) and remain within the simplified needs test (earning minimal amounts between date of death and settlement) where assets are not considered, that it would be possible to shelter the inheritance. However, that goes back to Profile and finding school that only use 2.4 times income as a home equity figure. Is anyone familiar with any Profile schools this use this 2.4 times income as home equity figure?