Inheritance or gift - advice required.

Bazzalona13295

Spendless said:

Are you on any means tested benefits or likely to be in the foreseeable future? 

No I'm not, can't see it in the future either.

pollypenny

If your mum gets attendance allowance that suggests some weakness/ illness which could mean a care home in the future. Money given away is likely to considered deprivation of assets. 

Bazzalona13295

pollypenny said:

If your mum gets attendance allowance that suggests some weakness/ illness which could mean a care home in the future. Money given away is likely to considered deprivation of assets. 

Without saying too much her condition isn't likely to result in that, to be honest physically she couldn't get a whole lot worse although her mind is still sharp.
Unfortunately the probability is that she will die at home.

But I do take your point, thankyou.

Newly_retired

She might still need care  at home? she would have to fund it herself though.

Bazzalona13295

Newly_retired said:

She might still need care  at home? she would have to fund it herself though.

Yes that is a possibility but as much as was possible I'd care for her myself, that is her wish.

tls123

If your mum has a mortgage to pay off then it would be sensible to use the money to do this first then gift some to you if she so wishes. 

Bazzalona13295

tls123 said:

If your mum has a mortgage to pay off then it would be sensible to use the money to do this first then gift some to you if she so wishes. 

Yes she's doing this, thanks.