staffordjas
Well-Known Forumite
He'll be bloody lucky! (I'll let him keep getting the drinks in , in hope thoughHubby's luck's in, eh..?
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Proposal for new houses in Walton on the Hill.
- Thread starter Staffordian82
- Start date
littleme
250,000th poster!
You'll be fine, enjoy your nightMight feel ' aged'a bit more in the morning though
littleme
250,000th poster!
You have to be carefull how you do this, it has to be done way before any illness or infirmess (as I understand)....
staffordjas
Well-Known Forumite
Keep whacking a bit across to help with his over payments.
If we 'give' him our house though it can still be taken by 'them' within 7 years though ( or something like that)
He'd love a detached ( as his neighbour told him he should get. Been quiet except for 2 parties in 3 and half years , both ending by 7.30pm as going into town after. Last weeks Halloween party she was hammering on the door by 6.45pm saying she was calling cops if he had a party as she goes to bed by 7pm
)He had a police officer actually there at his party who told her she's unreasonable and she's no cause for complaint)
Hopefully he eventually gets to inherit our lovely new house we've pushed the boat out to own.
staffordjas
Well-Known Forumite
Any visits to docs which might result in care , you can't give anyone any money as would be classed as evading care home costs
Gramaisc
Forum O. G.
In the days when I was 'active' in the market, most of my customers were retired. A lot of them were hugely worried about their income, but none of them were actually able to spend it all, if they had tried - then some of them started to be worried about having too much in savings...
Just little old me:)
Well-Known Forumite
Made me laugh as I was trying to imagine the conversation and how it might go... " well I think you should hurry up and spend your money before you're dead"
littleme
250,000th poster!
Thank you, i knew there are 'rules' but wasn't certain how they worked....Keep whacking a bit across to help with his over payments.
If we 'give' him our house though it can still be taken by 'them' within 7 years though ( or something like that)
He'd love a detached ( as his neighbour told him he should get. Been quiet except for 2 parties in 3 and half years , both ending by 7.30pm as going into town after. Last weeks Halloween party she was hammering on the door by 6.45pm saying she was calling cops if he had a party as she goes to bed by 7pm
He had a police officer actually there at his party who told her she's unreasonable and she's no cause for complaint)
Hopefully he eventually gets to inherit our lovely new house we've pushed the boat out to own.
My Stepnana left her house in trust (I think) to her 4 kids in her late 60s, eventually it was sold & later, years later (she lived to 89) she went into assisted housing...she was adamant that the government weren't going to get what she had worked for since age 14 . It worked fine, but you have to do it in good time. Sadly. Or they claw every penny back.
littleme
250,000th poster!
Sounds like something I'd say
staffordjas
Well-Known Forumite
Please tell them to bloody enjoy their life! My parents s had ' cheapo' coach holidays struggling to get on and off. If they'd have got private transfers they'd have enjoyed better holidays to better hotels.... but they stupidly struggled with money there in the bank.
I never saw them for a year before their deaths as they fell out with me for buying their discounted shopping and they argued they could have got one item a couple of pence cheaper in another co- op!
kyoto49
Well-Known Forumite
This is my plan!
Just little old me:)
Well-Known Forumite
I think inheritance tax laws apply but I'm not sure so would be the 5 year rule but I think a loop hole used by some is to put things in trust way before it may be an issue? Don't know the full ins and outs though?
Just little old me:)
Well-Known Forumite
Lucy
Well-Known Forumite
You can't spend it when you're dead is what I mostly say. FIL keeps telling me they aren't that well off. I keep reminding them they have more money than 70% of the country and their son earns a lot so doesn't need anything. MIL is finally retiring at the end of the year so telling them to go on holiday every month. 'But we don't know where we fancy'. Just get on an effing plane.
My Dad has a good life on very little money. Drives me mad when people who have more in retirement don't spend it.
staffordjas
Well-Known Forumite
When we made our wills , we afterwards got paperwork warning we could lose every thing to care homes , and saying they could put house into sons name as well as ours to avoid all that...but came at a cost . We first bother at the time as couldn't afford at that actual time
staffordjas
Well-Known Forumite
Just to add...if you give family any money towards mortgage it has to be ' gifted'.
If if isn't classed as that , it goes against ability to pay it back (reduces mortgage eligibility )
If if isn't classed as that , it goes against ability to pay it back (reduces mortgage eligibility )
Just little old me:)
Well-Known Forumite
Just glad I don't have to worry about handing over an estate worth more than £325,000 to my kids blooming pesky inheritance tax.
blooming pesky inheritance tax.
Just little old me:)
Well-Known Forumite
Is the 'gifted' one the one one that if you die in the 5 years following the 'gift' it becomes eligible for inheritance tax?
Also is it still true that 'fine wines' (vintage £50k bottles etc) are still exempt from inheritance tax?