Give £s to sons/IHT/Dep of Assets

castle96

All fair points. Thanks for advice as always

happyandcontented

Another point that hasn't been mentioned is if the children are married and subsequently divorce, then half your savings will go with the spouse. You may think that scenario is unlikely but no one knows what can happen.

Nebulous2

Keep_pedalling wrote: »

The question related to HMRC recovering IHT rather than care costs, and was not answered because it is never going to happen in his situation, or indeed 99.9999% of estates..

There was more than one question in there. I was referring to the one below - which does happen.

castle96 wrote: »

If I were to give sons say £160k each, … they use for house purchase then soon I need to go into a care home. My remaining assets/house would be sold off, then Dep of Assts would (rightly) kick in. Given that the funds I gift would now be sitting in the sons bricks and mortar, would the Council force the sale of their properties to reclaim these funds ? How would they know how much to reclaim as they wont know how long I will survive/be in home.

JustAnotherSaver

Keep_pedalling wrote: »

It’s not nonsense it is common sense. I don’t think anyone here is against helping your children it is about balancing their needs against yours. I have seen what happens to people who are asset rich and cash poor. In their latter years they end up not being able to pay to keep their house in good order and end up living in squalor.

I would never let a parent do that to themselves, and neither would I do that to myself.

I see where you're coming from and i don't disagree. I just don't like a lack of balance...



However i also (frequently) see people on this board ignoring an OPs question and basically telling the OP they mean something other than what they're saying, pushing their own views on the OP because they think they know it all because they saw a bad case one time so now think every case is like the bad case.



Instead of just listening to the OP.