[deleted]

[Deleted User]

sheramber said:

I guess the OP didn't like the answers. 

_shel said:

viewfromhere said:

Hi, I need to arrange a cash gift to a sibling from a parent's care fund. Our parent moved to a care home last year and sold her house to help pay for the fees. My sibling is in desperate need of a sizeable amount of money due to an unforeseen circumstances, and I have agreed (as an attorney) to transfer the money from our parents account. We are looking for suggestions and/or advice on how to record the gift so that is either debited for any inheritance, or owed in case or parent runs out of money to finance the care home. We are also wondering if the money will be liable for income tax if it is given as a gift rather than a loan.  My initial thought was to amend out parents will accordingly, but any other advice would be welcome.

 What you suggest could see you being struck off as attorney, this certainly isn't in your parents best interests. 

But at least Shel quoted the question .... otherwise i would have been totally confused!

AnotherJoe

Sea_Shell said:

sheramber said:

I guess the OP didn't like the answers. 

I suppose we'll never know whether they took the points on board, realised they couldn't do it and now won't, or will just go ahead regardless.

Unfortunately there are probably many people who take on the role of PoA without really understanding their obligations and restrictions.

A friend of mine is a financial investigator with the police and he says that this sort of fraud is growing very fast. He is often (or was I guess at the moment) in court giving evidence on the money trail of these kind of transactions. No doubt some are well meaning but still illegal, others are out and out theft. This one seems part way. 

If the local authorities come looking for the care money they will certainly Press to get to the bottom of this kind of thing because they are so Hard presssd for money.