Advice- source of funds for gift?

FTB0811

Hi all

I'm just hoping that someone might be able to offer some advice on my query:

I'm in the position of being able to buy my next property without a mortgage, due to a (extremely kind and generous) offer from my mother. She received some funds from an inheritance abroad some years ago, and has transferred the money over to her UK accounts about a year ago. I am worried about proving the source of funds when asked by the solicitors though and whether it may not be possible for my mum to help me in this way. If anyone is able to advise on what sort of documentation the solicitors may ask for it would be much appreciated- my mum had the funds in accounts abroad for some time and any official documents as to the source will be difficult to obtain and in a different language. Will it be an issue even if the funds have been in the UK for over a year?

Thank you in advance!

G_M

I've no idea what the solicitor will want to see or how far back - only the solicitor can answer that. One or more of

* UK account your mum has held the money in?
* Deed or statement saying it is a gift (not a loan)?
* transfer info from when it came to the UK?
* acount overseas?
* details of the inheritance, will etc?


As a gift, it will remain in your mother's Estate for 7 years for Inheritance Tax purposes should she die.
Also it could be seen as 'deprivation of Assets' should she need a care home and seek localauthority funding.

davidmcn

How many years is "some years"? In practice solicitors are only likely to be looking back months, rather than years. If the transfer from overseas to the UK was directly by bank transfer, and she can produce statements for both accounts showing the transfer, then I can't see it being a problem, she'll just need to produce the statements and her ID. If anything needs translated then it can be translated, it's just more bureaucracy but hardly impossible.