Monetary Gift from Grandparent ?

kazd

My grandmother wants to make a gift to my sister and I of two thirds of her money. She does not own her house and her savings are well below the inheritance tax level. Basically she wants to see us benefit whilst she is still alive. Apart from the tax implications (which in all honesty would not be massive on the amount we are talking about), is there any reason why she would not be allowed to do it.

We are thinking in particular if she needed to go into sheltered accom in the future. Could they come to us after a few years and demand the money back to pay the accom fees. Is there an amount of time that this applies to.

Thanks