Concerned for my aunty's money

elsien

bigadaj wrote: »

Y

A possibility is that she could buy a property which you could live in and pay her rent. This would be a better return for her and might benefit you, but agin you need to be conscious of other family members and what is in her best interests.

I think you also need to consider whether aunt is willing to take on the responsibilities of being a landlord. Which even if this is family, she would be and still need to consider all the legalities and obligations this involves. For example if your circumstances change and you can't pay the rent would she feel able to evict you if it came to it? From what the OP has written, the aunt may be too conservatively minded to want to consider these sorts of options. There's no harm in putting them to her though, as long as you are able to go through all the pros and cons.

iammumtoone

she is £81 she has £500,000 as others have said that is more than enough to see her through, why does she need more interest? The only gain to more interest would be you will get more once the time comes.

The fact some of it is unprotected is a slight concern but even if the unlikely event of the worse did happen and she lost some with the protected £75K and her house she would still be left with enough money for all her needs, again protecting the money is more for your benefit. Have you explained to her that anything over £75 in one account is not protected?

Why are you asking this question? if she has asked for your help and advise, then yes guide her and tell her the best options, but if she has not asked then whilst she is still capable leave well alone and just enjoy spending time with her and helping with other things that she does ask for help with.

If the time comes where she starts to lose mental capacity then maybe talk about power of attorney. If it ever gets to that stage then you could protect her money more (75K in various accounts etc) as you are correct that would be in her best interests but at the moment her best interests need to be decided by her.

le_loup

My_aunty's_nephew wrote: »

I am not her immediate next of kin.

What are the opinions of her immediate next of kin?
You seem (and this may be very unfair) to be looking out for yourself as much as your aunt.
And as others have said, don't imagine you could look after a frail old lady should she become one.

bigadaj

We obviously don't know everything given the limited information but it may well be a post from a conferenced relative looking out for an elderly relative.

If this is the case it's important that the OP is conscious of how their actions might look to a disinterested third party, objectivity is a simple but often rare thing.

This is particularly the case where there seem to be family disagreements with other relatives.

The aunt needs to try and communicate with all of her relatives, even if this is difficult, and make a clear will to avoid disputes and potential future legal arguments.

My_aunty's_nephew

Thank you to those of you who have provided constructive advice. And for those of you who seem to prefer to provide criticism and suggestions that I am in some way trying to rob my own Aunty, even though I have said this is not about me and that I've got no interest in gaining anything, can I suggest you vent your negative and horrible thoughts elsewhere as your comments are in no way helpful or welcome.

le_loup

Another satisfied enquirer who don't like the answers.

iammumtoone

My_aunty's_nephew wrote: »

Thank you to those of you who have provided constructive advice. And for those of you who seem to prefer to provide criticism and suggestions that I am in some way trying to rob my own Aunty, even though I have said this is not about me and that I've got no interest in gaining anything, can I suggest you vent your negative and horrible thoughts elsewhere as your comments are in no way helpful or welcome.

Nobody has said they thought you were trying to rob your aunt.

What they have questioned is why you think she needs more money (interest, investments etc) when she clearly has enough to last for all her needs.

Only you know your aunt but generally older people like things simple and what they have always known (ie put your money in one account, probably the bank they have used for years as they used to know the manager in the days you could pop in for a chat!). Unless there is a problem or they have asked, any suggestion of change is not always comfortable for them to deal with.

Eco_Miser

My_aunty's_nephew wrote: »

Thank you to those of you who have provided constructive advice. And for those of you who seem to prefer to provide criticism and suggestions that I am in some way trying to rob my own Aunty, even though I have said this is not about me and that I've got no interest in gaining anything, can I suggest you vent your negative and horrible thoughts elsewhere as your comments are in no way helpful or welcome.

This is not so much about what you are actually doing, or what your motives actually, but about what you look to be doing.
Sadly scheming relatives are not unknown, nor are family feuds when one person is bequeathed more than others of apparently similar standing.

Such schemers would of course protest that they are not doing this for themselves, as would completely innocent relatives.

We only have a few internet posts, and varying amounts of cynicism, to determine which anyone posting about their elderly relatives fortune is. In your first post you appear to be asking about having her buy a house for you to live in.

I suggest you read a few other threads on similar subjects

ChesterDog

OP, if you think people here - who are impartial and do not know you - are accusing you of trying to rob your aunt, just wait until your relatives get involved...

jimjames

ChesterDog wrote: »

OP, if you think people here - who are impartial and do not know you - are accusing you of trying to rob your aunt, just wait until your relatives get involved...

And so far this question seems to have been ignored

le_loup wrote: »

What are the opinions of her immediate next of kin?