money from estate

Keep_pedalling

Savvy_Sue wrote: »

But surely only Dad's finances are likely to be under assessment at this stage?

If mum is in good health and not doing this in anticipation of needing care, DofA is less of an issue, as long as she can demonstrate that it's HER money she's giving away and not HIS.

The OP said everything is in joint names, therefore anything given away reduces his assets by half the amount of the gift.

carrienalf

thank you all who have replied given us a lot to mull over x

Ms_Chocaholic

How much are you talking about in ££?

AnotherJoe

Keep_pedalling wrote: »

The OP said everything is in joint names, therefore anything given away reduces his assets by half the amount of the gift.

I don't see why. If for example house is worth £200k and they go to TiC then each has £100k and mum can give away say £50k (or whatever) out of her £100k without dad being affected at all.

Ms_Chocaholic

Worthy of note - the first post says "mum wants to give", however post 4 says "he wants the money now". Is your brother attempting to financially abuse your mum?

getmore4less

Simplest way is a documented loan to sibling with a requirement to repay on death of the donor or sibling.

Does not require change of will or codicil.

It does have some pitfalls Eg. the estse is insufficient and the sibling is unable to repay sufficient to cover the others but that applies if the will is changed.

AnotherJoe

getmore4less wrote: »

Simplest way is a documented loan to sibling with a requirement to repay on death of the donor or sibling.

Does not require change of will or codicil.

It does have some pitfalls Eg. the estse is insufficient and the sibling is unable to repay sufficient to cover the others but that applies if the will is changed.

And I suspect that's a non trivial problem in that sibling never intends to repay, and if mother dies first without altering will then the rest of the money goes to dad and gets sucked up in care home fees.

Keep_pedalling

AnotherJoe wrote: »

I don't see why. If for example house is worth £200k and they go to TiC then each has £100k and mum can give away say £50k (or whatever) out of her £100k without dad being affected at all.

Good point, but I was only thinking of current liquid assets, as the OP was talking about giving money. They could of cause still split the current cash deposits so she could just give away some of her share provided that did not leave her short of assets to cope with an emergency, or if there is no LPA in place to handle his financial affairs if he has already lost capacity.