Anyone know about Inhertance Tax?

Bluebirdman_of_Alcathays

G_M wrote: »

This would quite possibly been seen as 'depriation of assets' by the local authority - in other words a deliberate attempt to pass on assets in order to get means tested benefits.

Yes - but there is no acid test on DoA, and the sooner you give it away the better your chances of getting away with it. I said "the easiest way", not "a surefire way"

G_M

a casual reading of your post could give the uninitiated the impression it was in fact "a surefire way"- hence the clarification of the risk posed by Deprivation of Assets.

Pixie5740

No need to start giving anything away. According to that Age UK link:

Your home also won’t be counted if it’s still occupied by:

* your partner or former partner, unless they are estranged from you
* your estranged or divorced partner IF they are also a lone parent
* a relative who is aged 60 or over
* a child of yours aged under 18
* a relative who is disabled.

One of the daughters is already 61.

bundly

Thanks EVERYONE for your time and effort here.

So the bottom line is, the house cannot be taken away or have a charge on it because one of the sisters is over 60 (and the other one will be soon).

xylophone

one of the sisters is over 60 (and the other one will be soon).

Would you describe four years as soon?

The "means test" danger ( albeit small from what you have said) would be that the older daughter died (or left the property) before her sibling reached the age of 60 and that the mother or father as sole owner of the property required care before that point.

sheramber

Bear in mind that if the local authority are paying for care you will not have the same choice of care home as you will if you are paying for it.

You may be offered a place in a home far away from the family home or one where the facilities are less than you would like for your elderly parent.

If you want the best care , near to the family home( and possibly husband or wife) then you may need to pay for that choice.