An elderly family member has recently sold their house and moved in with another relative. What is the best way to invest the 140K+ generated by the sale of the house? Is it best to place in into one or several accounts? Can anyone advise on the 'best' companies to invest with in these circumstances? What is the best way to prevent the family being taxed on these funds if/when the relative passes away.
TIA,
Paul.
In message , CheggersPop writes
How old is she? Does she want any income or just capital growth? Does she have any other savings? Does she wish to retain the right to immediate access to some (if so how much) or all of the dosh? Can she accept any degree of capital fluctuation (even if for only part of the money) that one would associate with the Stock Market?
If that is all she has or her total assets at time of death do not exceed the threshold for IHT (currently £275000) and if she hasn't given any dosh away during the seven years before her death then there will be no IHT to pay on her death.
He's 91. Just capital growth. Only a minimal amount of other saving (5-10K tops) Immediate access to some, approx 10K would be advantageous. No necessity of Stock Market is required.
He would therefore fall below the threshold, thank for this advice.
Paul.
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