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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 22977
Experience:  38 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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My parents own a freehold home and want to gift me (daughter)

Customer Question

Hello, My parents own a freehold home and want to gift me (daughter) $25k to help me out with a separation. They have been told this is not a good idea.
They dont want me to pay it back but go towards my inheritance.
Submitted: 1 year ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 1 year ago.
There is nothing to stop them from doing so if that is their wish. There are no restrictions on gifting and they can so so freely. The only issue is if they are likely to need resdiential care when they are old and frail, and gifts made within 4 years of this can be set aside. But otherwise I dont know why they have been told not to do this.