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74jax wrote: »
My dad wanted to give me and my brother some. We just took it. Popped it in an account and when he died used it to support mam in the care. He got the reassurance we had his money and felt at ease.
Your mam will need care later on and being able to chose the care is a huge plus point. Let her give you it. Say you don't want anything but will keep it for a rainy day. Then when she is assessed as giving money away (and as though she still has it) it makes no difference because you step in and use it.
Of course this is if a you say as above you don't want anything. If you do, then go ahead, but be careful your mam might be assessed as still having it.
onwards&upwards wrote: »
Only potential problem with that is if something were to happen that meant the OP might need to claim benefits. Then the money sitting in an account in his name becomes more complicated because then he needs to worry about deprivation of assets for himself.
LilElvis wrote: »
If your Mum eventually needs higher levels of care then I think you (and she) could well be shocked at how much it can cost. My MIL is preparing herself for the time when she can't cope in her own home and has put her name down for a care home. We have had to sign as guarantors for four years worth of fees - £237,000 - and that's for the lowest level of care - the highest level is an eyewatering £7,400 per month. £150,000 won't go very far if she wants to end her days in a nice setting of her choice.
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