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Adult isa
keith1948
Posts: 1 Newbie
Distributing money into an isa for our three adult children. Am I limited to the £3000 gift allowance or can I do the 7 year rule between my wife and myself and put extra money in?
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Comments
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You can gift what you like, even though some might ultimately still be liable to IHT if your estate was above that threshold if/when applicable....1
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And assuming you have enough savings that you won't be needing support from the council for care, otherwise you'll be dealing with deprivation of assets and the kids may potentially have to pay the money back.I’m a Forum Ambassador and I support the Forum Team on Debt Free Wannabe, Old Style Money Saving and Pensions boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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How about regular gifts from surplus income?
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