My father is due to go into a care home, my mother has given me some money to spend and also to keep for the costs of the care home. Legally am I able to spend any of the money on myself, as I believe that their savings would be 50 - 50 and that mum could do what she wanted with her part of the money, is this correct?
Good day, I always strive to reply in the shortest possible time,I may be delayed answering other questions, attending a meeting or in court.How much has she gifted you?
100.000 has been gifted
Good afternoon,I am sorry about the delay but we have had a few technical problems It seems that by making this gift your Mother is passing the responsibility to you for the care home fees. These can often be as much as £3,000.00 per month. I would certainly therefore not be inclined to spend any of the money on yourself as this could easily be used up very quickly. It really depends on what your arrangement is with your Mother but for your own sake, I think it would be best if the invoices from the care home are not directed to you unless you have been granted Power of Attorney or are the appointed Deputy for your Father.Please remember to only rate my answer when you are fully satisfied. If you feel the need to click either "Helped a little" or "I expected more" please stop and reply to me via the REPLY or CONTINUE CONVERSATION button with the issue that you have. I will be happy to continue further and do everything I can to provide you with the service that you seek.Best wishes FE
Thank you for the reply - please could you advise if I will be in any trouble over the money that has been spent
Good afternoon again,How much money has been spent and on what? FE
10,000 on my mortgage
10.000 ON MY MORTGAGE,10,000 on my mortgage
£10.000 off my mortgage
Good afternoon,I am sorry about the delay but we have had a few technical problems.I do not see that you are in any trouble. The only thing that might happen is if your mother does not survive for 7 years after making the gift then this could be brought into account for inheritance tax purposes.Please remember to only rate my answer when you are fully satisfied. If you feel the need to click either "Helped a little" or "I expected more" please stop and reply to me via the REPLY or CONTINUE CONVERSATION button with the issue that you have. I will be happy to continue further and do everything I can to provide you with the service that you seek.Best wishes FE
30 years General Practice including Divorce & Matrimonial Property
Hi,I do hope my answer has proved to be of benefit to you. If you should require my advice in the future please do not hesitate to me starting your question with FOR THE ATTENTION OF FE SMITH.
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