Provision for my Sisters future

robp

Due to illness my Sister has been off work for a number of years, and has no savings to speak of as she lives on benefits (although she is hoping to return to part-time work soon). Her partner works but is not a high earner...they tend to live hand to mouth.

My Mother and I are wondering how we can make some financial provision for her, preferably something not accessible to her partner and certainly nothing that might affect her benefits.

Does anyone know how this might be arranged?

Our thoughts at the moment are:-

1. Gift money at £2000 a year and pay into a SIPP/PP in her name
2. Gift money and pay into an ISA
3. Make a one off contribution into a SIPP/PP and leave it to grow

We think the pension option is good for making sure it's not spent during a time of weakness...

Any advice much appreciated.

robp

Just wondering if there is a more appropriate place for this?

I think we'll go and speak with a solicitor first, then perhaps an IFA.

Thanks to anyone who looked!

DocProc

Give it a bit of time on here first as it might have been good on the telly last night.

I am sure there have been several topics like this on here before. Have a look back on the threads on this particular part of the MSE Forum to see what you can find.

Also, IMHO, your own thoughts on things above have already burned up about £300 to £400 in professional fees.

robp

Thanks, and good point.

I think the fees would be worth it for peace of mind.

She's worth it...!