Gift received from mother

Concerned22

Thank you to everyone who has replied to my post, particularly raising the issue of deprivation of capital should my mum need to go into care in the future which I had not considered. Although she has given £70k each to us three children, she still has assets remaining of around £400k including her flat. Would this be considered sufficient in any disclosure to the local authority of her assets and gifts to us?

kaMelo

Concerned22 said:

Thank you to everyone who has replied to my post, particularly raising the issue of deprivation of capital should my mum need to go into care in the future which I had not considered. Although she has given £70k each to us three children, she still has assets remaining of around £400k including her flat. Would this be considered sufficient in any disclosure to the local authority of her assets and gifts to us?

Should your mother need help with care she would be a self funder, as a self funder the local authority couldn't care less what she has done with her money. They would only be interested if she tried to claim for help from them in funding her care.

Pollycat

kaMelo said:

Concerned22 said:

Thank you to everyone who has replied to my post, particularly raising the issue of deprivation of capital should my mum need to go into care in the future which I had not considered. Although she has given £70k each to us three children, she still has assets remaining of around £400k including her flat. Would this be considered sufficient in any disclosure to the local authority of her assets and gifts to us?

Should your mother need help with care she would be a self funder, as a self funder the local authority couldn't care less what she has done with her money. They would only be interested if she tried to claim for help from them in funding her care.

My Dad was a self-funder, but only for a brief period of a few months.

Our local council Adult Care were involved in Dad's case for a while before he needed to go into a care home, they arranged daily help to get him up, washed and dressed and some respite for Mum.

When it became clear he could no longer stay at home, they recommended some places and we chose one.

We still had a visit from our county council finance department to go over Dad's finances. I handled that and it was very thorough.

BUT...this may have been because Mum & Dad had shared finances and they needed to separate that.

They needed to see bank statements for the past 6 months.

The nursing home my Mum is in charges just shy of £1k per week. Residental care homes are cheaper.

At that cost, £400k would last over 7 years before the £23,250 level that council funding kicked in - and that's not taking into account your Mum's income.

Of course, it's more probable that your Mum won't have to go into a home anyway.

Concerned22

Pollycat said:

kaMelo said:

Concerned22 said:

Thank you to everyone who has replied to my post, particularly raising the issue of deprivation of capital should my mum need to go into care in the future which I had not considered. Although she has given £70k each to us three children, she still has assets remaining of around £400k including her flat. Would this be considered sufficient in any disclosure to the local authority of her assets and gifts to us?

Should your mother need help with care she would be a self funder, as a self funder the local authority couldn't care less what she has done with her money. They would only be interested if she tried to claim for help from them in funding her care.

My Dad was a self-funder, but only for a brief period of a few months.

Our local council Adult Care were involved in Dad's case for a while before he needed to go into a care home, they arranged daily help to get him up, washed and dressed and some respite for Mum.

When it became clear he could no longer stay at home, they recommended some places and we chose one.

We still had a visit from our county council finance department to go over Dad's finances. I handled that and it was very thorough.

BUT...this may have been because Mum & Dad had shared finances and they needed to separate that.

They needed to see bank statements for the past 6 months.

The nursing home my Mum is in charges just shy of £1k per week. Residental care homes are cheaper.

At that cost, £400k would last over 7 years before the £23,250 level that council funding kicked in - and that's not taking into account your Mum's income.

Of course, it's more probable that your Mum won't have to go into a home anyway.

Hi Pollycat,

Thanks very much for your reply which is really helpful as you have gone through the process yourself.