Money bequests in a will

[57sue]

Hi
My mum is in a care home - self funded. Dad died awhile ago. Mum has left my 2 daughter’s £40000 each in her will. My question is will her wishes be honoured because of her self funding predicament? Or will the money be used up down to the £23,500 allowance? I have LPOA Is there anything I can do. Thank you

 

[cymbid]

Wills do not kick in until after the person is dead. Until then it is her money and will be assessed as required (including £23k limit) . What is left , on her death is her estate. That is what can be divided between the heirs . They probably will get much less

 

[Jaded'n'faded]

Wills are made with assumptions about how much will be left in the estate when a person dies. The cost of funding care can dramatically reduce that. If your mum doesn't have that money left by the time she dies, your daughters will just get a share of whatever remains.

And no, there isn't anything you can do. It sucks, doesn't it?

 

[57sue]

Wills do not kick in until after the person is dead. Until then it is her money and will be assessed as required (including £23k limit) . What is left , on her death is her estate. That is what can be divided between the heirs . They probably will get much less

Thank you for your reply.

 

[57sue]

Wills are made with assumptions about how much will be left in the estate when a person dies. The cost of funding care can dramatically reduce that. If your mum doesn't have that money left by the time she dies, your daughters will just get a share of whatever remains.

And no, there isn't anything you can do. It sucks, doesn't it?

It certainly does suck. Thanks for replying