Both parents moved into a care home last year. Their house was sold to pay for the fees and all three children have joint POA. My mother would like to give each of the five grandchildren a cash gift of £3000 as she is aware that the proceeds of the house will only pay for their fees for the next two years and there will not be anything left for the grandchildren to inherit.
I am not sure that this will be allowed as it may be seen as though they are deliberately getting rid of their money so that they could be state funded. Can anyone advise please?
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Elderly parents
Power of Attorney and self-funding care homes
3 replies
Reredos · 01/07/2014 14:55
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