A foolish friend who is 84 has given her sister in law (also 84) and her husband a cheque for £127K to help them buy a bungalow suitable for there aged needs. They actually phoned and asked her for the money although they have never been close. I think I am correct when pointing out to her that if she dies in the next seven years that the money will still be part of her estate and subject to inheritance tax. She asked how will it be known that she had given it to them ? My other though was that as her relatives who get a lot of day to day help from social services that one or both of them will end up in a care home and her hard earned cash will end up in council hands if the property is sold to pay for their care. Derek
- posted
9 years ago