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Gifting money to grandchildren and care fees
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Savenow1
Posts: 1 Newbie
My mum is going to downsize and wants to gift some money to her grandchildren. What happens if she needs to go into a home within 7 years of that?
Is the government likely to ask for that back?
She will still have a substantial amount of money which I guess would be taken for care home fees.
Is the government likely to ask for that back?
She will still have a substantial amount of money which I guess would be taken for care home fees.
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Comments
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The 7 years is the time required for Inheritance tax not care home fees. If she has enough still to fund her care then government not interested .0
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No time limit for them to investigate a potential deprivation of assets. Is she doing this purely to avoid it being used for care home fees? If that's the case, do you not think she would like to have the choice of good care homes in her hour of need?1
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freesha said:No time limit for them to investigate a potential deprivation of assets. Is she doing this purely to avoid it being used for care home fees? If that's the case, do you not think she would like to have the choice of good care homes in her hour of need?1
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