Grandparents 'Gifting' to grandkids

diamonds

Keep_pedalling wrote: »

To give all your assets away is very foolish. Apart from the deprivation of assets issue already raised, she should consider that there is a strong chance that she will never actually require care, but may need that money herself for any number of emergencies that could occur during her latter life.

How much are we talking about here? Your statement about her having to use all her savings is wrong anything under £23,100 is disregarded. Does she also own her own home?

April 2016, this threshold will rise to £118,000 - unless Georgie boy pulled this, the threshold was to rise but was set years ago and may be lower or higher depending on Osborne, I dont recall it in the budget, but I didnt listen to it line for line.




Complex medical needs and thus its accommodation should be met by NHS not local authorities and thus assets would be irrelevant http://www.nhs.uk/Conditions/social-care-and-support-guide/Pages/nhs-continuing-care.aspx

Keep_pedalling

diamonds wrote: »

April 2016, this threshold will rise to £118,000 - unless Georgie boy pulled this, the threshold was to rise but was set years ago and may be lower or higher depending on Osborne, I dont recall it in the budget

I believe that has been pushed back to 2020.

roxy28

diamonds post 12. On age uk it says

If you have:

• between £14,250 and £23,250 in capital and savings and you are eligible for care, the council will contribute towards your care costs
• capital and savings above £23,250, you will have to fund all of your own social care.

After April 2020:

• the £23,250 upper limit will be raised to £118,000
• the lower limit will be raised to £17,000

Gadfium

mairimc wrote: »

before she has to start using all her savings to pay for care in her older age.

So who is going to pay for her care then? The tax payer?

diamonds

Keep_pedalling wrote: »

I believe that has been pushed back to 2020.

Thanks for confirming I expected as much from GO :rotfl:

diamonds

roxy28 wrote: »

diamonds post 12. On age uk it says

If you have:

• between £14,250 and £23,250 in capital and savings and you are eligible for care, the council will contribute towards your care costs
• capital and savings above £23,250, you will have to fund all of your own social care.

After April 2020:

• the £23,250 upper limit will be raised to £118,000
• the lower limit will be raised to £17,000

Yeah thanks Roxy I only remember the date as this year from the announcement sometime 2013/14, GO moved the goalposts apparently, again.

Another 4 years of hard working taxpayers who cant even leave their kids a small deposit to buy in this market because after paying into a promised NHS system for that care they are now expected to fund it over £23,000'ish - calculate 16 to the current retirement age for yourself people that equals your protected life savings, a pittance per month or year for all them years you worked hard thinking NHS would provide care (before the Tories sold that to private companies you now had to pay for from council tax, all to save NHS money - transference from state cost to net salary)

But hey here is a HTB ISA/LISA that will make buying cheaper with a bonus at taxpayer costs when house prices and mortgages are alot higher than now!, I really do think MP's have not a clue about people on minimum wage nor those who work the hardest just to buy their own house to leave their children a little help.

Scotland is circa 2K higher per year than the rest of the UK though, again the balance between UK punishment for those who saved or gained assets through work is a 5% TSB monthly interest.


Should a chancellor really not be holding Accountancy qualification? in my opinion...

diamonds

Gadfium wrote: »

So who is going to pay for her care then? The tax payer?

Well she was told the NHS from her tax, in reality from the 80s the net taxpayer after tax via local government tax, not before tax via the NHS as that generation was led to believe.

Tores and Labour are both guilty of that change of policy and shift of financial responsibility from state to post income tax local tax.


It is unfair to blame any generation for successive governments failures, even if it falls on us now

missbiggles1

diamonds wrote: »

Thanks for confirming I expected as much from GO :rotfl:

Well, they can't get it wrong all the time.;)

diamonds

missbiggles1 wrote: »

Well, they can't get it wrong all the time.;)

In full consideration of knowing this now, it really was a grab from the most sick this budget, DLA/PIP and protected savings/assets from the sick in care, its a wonder the news arena did not pick up on both! That was kept very quiet by the news channels and publications.

Gadfium

diamonds wrote: »

Well she was told the NHS from her tax, in reality from the 80s the net taxpayer after tax via local government tax, not before tax via the NHS as that generation was led to believe.

Tores and Labour are both guilty of that change of policy and shift of financial responsibility from state to post income tax local tax.


It is unfair to blame any generation for successive governments failures, even if it falls on us now

So you want the tax-payer to fund her upkeep then, even though she has the funds?