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Subject: Please Help My Grandparents

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Stephanie Smart
Posts:1
15-01-2008 6:17 AM Alert 

My Grandad has become very ill and needs care in a nursing home. He has worked all his life, never claimed a penny and is a war veteran that was treated badly in a prisoner of war camp.

I am really upset to find that because he saved all his life and has £40,000 in savings he now has to pay to £900 per week for care. If ever there was a man that deserved to be cared for in later life after being a model citizen and putting his life on the line for this country this is him. To make things worse he's a really nice caring guy and I'm not just saying that because he's my grandad. Anyway, my question ....

I'm told if you have more than £21,000 in savings you have to pay for you own care. My grandmother asked if she could gift £20,000 to the grand children or find some other way of moving the money somewhere. Obviously she doesn't want to commit fraud or get into trouble. She has enough stress already. Any suggestions would be greatly appreciated...

Stephanie

 

 

 
Johnny Debt
Posts:209
15-01-2008 9:09 AM Alert 
It might be worth contacting the Royal British Legion?
Johnny Debt

07870 492521
Johnny Debt
Posts:209
16-01-2008 12:19 AM Alert 

I have contacted a couple of people who may be able to offer some advice. They may post here or contact me direct, will let you know either way.
Johnny Debt

07870 492521
Suzy Evans
Posts:51
13-02-2008 2:44 PM Alert 
Hello Stephanie,

I hope you have found some good advice already!

Any joint saving between your grandparents should be split as soon as possible into separate accounts to avoid it being counted.

If your grandparent have a property, they should consider changing the ownership from joint to tenants in common to avoid it being included in the test for care (although I think they discount it for the first 8/12 weeks anyway).

Gifts between husband and wife and between partners in a registered civil partnership are tax-free, unless your grandad or his wife are domiciled outside the UK.

Everyone has an annual exemption of £3,000 per year which can be rolled to the next year if not used, so might be worth finding out if your grandad has gifted anything in previous years. There's also a number of gifts he can make to people for small amounts of £100/£250 and if he has any grandchildren in a child trust fund he can top these up tax free. The only thing to consider with the gifts and £3k allowance is that the beneficiary may be liable for inheritance tax if your grandad unfortunately dies within the next 7 years.

If you havent already, look on the local council/direct gov/HMRC websites and find a phone number for tax queries - they give unlimited tax advice on the phone and they are REALLY helpful.... but best of all they will tell you what you want to know for free and will only give you genuine information.

Good luck!
Suzy Evans
marie plumb
Posts:1
27-08-2008 10:21 AM Alert 
aw honey that is so sad i hope you can find some help. All the best
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Forums > Riding the Rhino - In Debt? Need Help? > Riding the Rhino > Please Help My Grandparents


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