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How much is considered as deprivation of assets?
homedad
Posts: 7 Forumite
My in-laws have just gone into extra care housing. House is being sold and should release £55-60k of capital after paying off equity release mortgage. This will be used to fund care until it reaches the allowed levels.
They would like to give their 2 daughters some money as a gift for helping them out over what has been a tough few months, maybe 2 or 3 thousand.
Would this be classed as deprivation of assets? or are there rules on what amounts of money can be gifted in these circumstances? I've tried looking into and cant find a definate answers.
Any help much appreciated
They would like to give their 2 daughters some money as a gift for helping them out over what has been a tough few months, maybe 2 or 3 thousand.
Would this be classed as deprivation of assets? or are there rules on what amounts of money can be gifted in these circumstances? I've tried looking into and cant find a definate answers.
Any help much appreciated
0
Comments
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Technically it is deprivation at any amount but....buying them some small gifts regularly could not be proven. So if the in-laws go grocery shopping and most of it goes to the daughters in exchange for a dinner then that isn't. It'll take a while to spend it in any case.:footie:
Regular savers earn 6% interest (HSBC, First Direct, M&S) Loans cost 2.9% per year (Nationwide) = FREE money. 0
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