Gifting money to son

bjbyorkshire

Thanks again for the latest posts.

We can easily do a transfer from the joint account into separate accounts then 2 transfers to son. I will write a letter stating that this is a gift without any reservation and keep it with our wills. That will make me feel more at ease. Son moves flats frequently in London so paperwork is easily lost along the way.

He doesn't know that we are proposing to do this transfer as he seems reluctant to discuss this with me. Maybe it's because it is money from the proceeds of his sisters estate but it's better he has some now rather than the tax man or a a care home gets it in a few years time. Yes I will keep a reserve for care home costs.

As for which is the fitter of us two? mmm! That's a difficult one. We like to think we both have a few years left in us yet but life has a have a habit of springing dirty big surprises just when we least expect it. A very fit 81 year old male friend of ours has just been told he has an inoperable tumour. He found out yesterday and they said he had to return to hospital last night to begin 5 cycles of chemotherapy straight away!

Over the last 2 years he has been giving money to grandsons to pay for their university education. I am shocked at the sudden diagnosis and pleased that the specialist have acted so very quickly to get treatment started.

It's a sobering thought and a very true saying that there are no pockets in shrouds, you can't take it with you!

Ive gone a bit off topic but it may give someone reading this food for thought.