Gifts from income - future care home fees
Posted: January 2nd, 2017, 7:39 pm
My elderly MIL wants to give some of her monthly income to one of her children to help them out. Her other 2 children do not need support but she would like to give them a similar amount so that they are all treated equally. We are talking probably about £200 - £250 per person per month, so a total of about £750 max. She will have enough monthly income left for her needs and will not reduce her savings or investments.
IHT will not be payable on her estate.
DAK if giving away this excess monthly income could cause problems if she has to go into care?
Corvid.
IHT will not be payable on her estate.
DAK if giving away this excess monthly income could cause problems if she has to go into care?
Corvid.