Inheritance.

[Mottie]

Mrs Mottie and I are of the opinion that it’s the parents money to spend or leave it to whoever they want. Her mum is much better off now in a care home and it’s costing a reasonable (we think) £6k a month. One of her siblings is fretting over the money draining away.

Other people we know are of the opinion that it’s their right to it and are badgering their parents to give it to them now so they can see them enjoying it while they’re alive.

What’s your views?

 

[Fred Blogs]

My mother in law was in a home for a goodly number of years. The money we used to keep her there wasn't ours it was hers and the proceeds from her house. We have already signed over our house to our children and when the time comes, assuming our deaths will not be sudden, we will ensure that they get our money. That way hopefully the scamming state will have to pay for us.

 

[HERTS P&D]

The money belongs to Mrs Mottie's mum, anything left after she passes is a bonus to her children.

Andy

 

[pete01]

My mother in law was in a home for a goodly number of years. The money we used to keep her there wasn't ours it was hers and the proceeds from her house. We have already signed over our house to our children and when the time comes, assuming our deaths will not be sudden, we will ensure that they get our money. That way hopefully the scamming state will have to pay for us.

That wont work I'm afraid, it will be seen as avoiding paying care costs.

 

[Trazor]

Other people we know are of the opinion that it’s their right to it and are badgering their parents to give it to them now so they can see them enjoying it while they’re alive.

This is why Euthanasia, if introduced, would need to be very very very tightly controlled.

 

[diy_fun_uk]

I'm pretty sure I got slated on here for mentioning that my mum wants to ensure any money she has, as far as possible, goes to her kids and grandkids to avoid it getting swallowed up in care home fees should that situation ever arise. I repeat, this is coming directly from our mum, not suggested by us.

I got folk, indeed Mottie you might have been one of them, calling me all sorts, saying I'd be happy to see my mum in a dump of a care home just so we could grab the cash.

No matter how much I tried to explain that's not the way care homes work up here (i.e. you can have a decent care home with paying and non paying clients) this didn't seem to be believed, even though it's a fact.

So yeah, our mum would like to leave it to us. Her attitude is why should she pay £1k - £2k per week for care costs (should this ever happen) and the person in the room next door is maybe getting the costs largely met by the taxpayer.

 

[Brigadier]

This is why Euthanasia, if introduced, would need to be very very very tightly controlled.

The beneficiaries probably say "They're in a better place now"

 

[Mrs Ten Names]

I'm pretty sure I got slated on here for mentioning that my mum wants to ensure any money she has, as far as possible, goes to her kids and grandkids to avoid it getting swallowed up in care home fees should that situation ever arise. I repeat, this is coming directly from our mum, not suggested by us.

I got folk, indeed Mottie you might have been one of them, calling me all sorts, saying I'd be happy to see my mum in a dump of a care home just so we could grab the cash.

No matter how much I tried to explain that's not the way care homes work up here (i.e. you can have a decent care home with paying and non paying clients) this didn't seem to be believed, even though it's a fact.

So yeah, our mum would like to leave it to us. Her attitude is why should she pay £1k - £2k per week for care costs (should this ever happen) and the person in the room next door is maybe getting the costs largely met by the taxpayer.

Some folks on here sway with the wind depending on who with whom are conversing The personalities outweigh any genuine opinion they may have.

 

[Deluks]

That wont work I'm afraid, it will be seen as avoiding paying care costs.

There's something like a 7 year rule.

 

[carmanmemoranda]

Mrs Mottie and I are of the opinion that it’s the parents money to spend or leave it to whoever they want. Her mum is much better off now in a care home and it’s costing a reasonable (we think) £6k a month. One of her siblings is fretting over the money draining away.

Other people we know are of the opinion that it’s their right to it and are badgering their parents to give it to them now so they can see them enjoying it while they’re alive.

What’s your views?

Her money. Her choice. If it helps get good care, then why not.


I fell out badly with my sister over similar.

 

[carmanmemoranda]

My mother in law was in a home for a goodly number of years. The money we used to keep her there wasn't ours it was hers and the proceeds from her house. We have already signed over our house to our children and when the time comes, assuming our deaths will not be sudden, we will ensure that they get our money. That way hopefully the scamming state will have to pay for us.

So you want me ( and others) to pay? Ok.

So you can get your hands on the money

 

[JonathanM]

That wont work I'm afraid, it will be seen as avoiding paying care costs.

There's something like a 7 year rule.

I think the rules are pretty complicated. That 7 year rule is actually for inheritance tax, not care fees, I believe.

Some basic info here from Which might be a useful starting point.

https://www.which.co.uk/money/pensi...rty-or-assets-to-avoid-care-fees-aSMvr3r37N9t

• Timing: there is no set time limit, although local authorities are unlikely to investigate too far back. Unlike 'the 7 year rule' that applies to inheritance tax, where gifts given seven years before a person dies are tax-free regardless of their value, there is no 7 year rule for deliberate deprivation of assets and any gifts given away before that may still count. Most importantly, they will look at the time between the person realising that they needed care and the disposing of assets.

 

[pete01]

So you want me ( and others) to pay? Ok.

So you can get your hands on the money

But you're ok with paying for peoples care if they didnt buy a house or save any money.

 

[pete01]

There's something like a 7 year rule.

Isn't that a myth

 

[Mottie]

We have already signed over our house to our children and when the time comes, assuming our deaths will not be sudden, we will ensure that they get our money.

That wont work I'm afraid, it will be seen as avoiding paying care costs.

I read that you can do that but you must pay a fair market rent to live there on which they will be liable for tax.