advice required

A question about : advice required

My aunt is selling her house and wants to give me the Ј35000 proceeds, what are the implications of this for her and myself.

Best answers:

• Are either of you claiming any means tested benefits?
• No, neither of us claim any benefits.
• Your aunt can do what she likes with them money, it's hers to give away. The only thing that you would need to look out for is deprivation of assets if she needs future care or benefits.
• I think you are probably thinking about Inheritance Tax.
  Have a look at this link for a general overview:
  https://www.hmrc.gov.uk/inheritanceta...empt-gifts.htm
• thank you for the advice.
• where is she going to live ?
• My sister has already taken her to live with her, my aunt needs some care but does not want to go into a nursing home.
• Personally, unless your aunt has other assets, I think it would be a huge mistake for her to give away all her money. She doesn't need nursing care now, but what about later on? What if your sister won't or can't look after her in the future? If she came to you and asked for the money back because she needs it urgently, how will you feel if you have to tell her that it's been spent, or you have to sell your house to raise the capital to give back to her.
• why not give it to your sister who she is living with .?
• Ah !. new information folks.
  my aunt gets 60p pension credit, this obviously affects everything. what in the world can we do? all my sister and I are trying to achieve is moving our old aunt nearer to us & provide some tlc.
  you are all good people, therefore any & all advice would be appreciated.
• Your aunt can still get the tlc she needs but with the added benefit of having 35k in the bank to look after her financial needs. She can't just give away her money and expect the state to support her, this is where the deprivation of assets come in.
• My Aunt cannot afford to live in her house any longer, she is going to move in with me if I pay off her mortgage and give her Ј3000. I'll then own a house valued at Ј60000. I need some seriously good advice.
• My Aunt cannot afford to live in her house any longer, it simply won't sell in this market. She is going to move in with me if I pay off her mortgage of Ј15000 and give her Ј3000. I'll then own a house valued at Ј60000. I need some seriously good advice.
• "My Aunt cannot afford to live in her house any longer, it simply won't sell in this market. She is going to move in with me if I pay off her mortgage of Ј15000 and give her Ј3000. I'll then own a house valued at Ј60000. I need some seriously good advice." post#14
  This thread makes little sense today - posts 13/14 are starter questions from 2
  new threads created today by the OP which appear to have been deleted ...
  OP - Is the problem that you were just trying to bump the thread, or you have not had an answer you liked yet?
  ... and we thought she had moved in with your sister
• I apologise for any mistakes in posts/posting. it is a fluid situation, my Aunt IS living at my sisters, this is temporary (sister has own family) because my Aunt simpy cannot afford to stay in her own home & can't find a buyer. I work away all week and am able to cover all her housing needs whilst my sister can provide the required care. My Aunt wants to remain independent & I am trying to assist. I don't need her money but she wants me to have it to pay her own stubborn-minded way.
• What is a troll? I am a lorry driver, self employed working 15 hrs a day. I find it extremely difficult to make time to go see a lawyer. I thought I would try this in the little time I have. guess I was overestimating my faith in the good old general public.
  I give my sincere apology to anyone I may have offended & will take a week off and seek professional advice.
• OK assuming you are not a troll...
  How old is aunt and what income / benefits is she receiving other than 60p pension credit?
  What is proposed re. the house if there is a mortgage/ she can't sell/ it is 'worth' Ј60k - very low figure, is it in negative equity?
  What actual care needs does she have re AA qualifying conditions? https://www.adviceguide.org.uk/englan...ance_allowance
• I still don't understand the troll thing but anyway, my aunt has a small private pension amount unknown, state pension & a ridiculous 60p pension credit. thats it. SHE REFUSED TO ALLOW MY SISTER TO APPLY FOR HELP. her care needs are none really but she is 78 yrs old an bloody independant, confused at times quite frail for her age, A TYPICAL SCOT.
  can't wait for reply now. will check page tomorrow night.
• Your aunt wants to give you 35k and lives with your sister who looks after her? Why doesn't she give 35k to your sister?