I think the best thing to do is pay the whole £295K into Mum's account,
This is less than the allowance of £325k, the complete £295K can be given away.
IHT does not enter into the equation
I think the best thing to do is pay the whole £295K into Mum's account,
Hi. Your head must be spinning!
As far as capacity goes she is not diagnosed with dementia or anything else but she is 88 and gets confused at times, you can not have a fully logical conversation with her as we are having here.If so, does your mother still have capacity?
Mums was sold first and the whole of that sale was then used to purchase a house further out with enough space and room to convert a garage into an annexe, no mention of how this was to be paid for. That house is registered in my sister and her husbands name.
When sister then sold her house some 3 months later the agreement was to pay my half of (Inheritance) from that sale, which she did.
NO not correct either. Sold Mums, bought a house in her and husbands name with money with Mum's permission, then sold her own house bought and paid (no mortgage) and paid me from that sale.so your sister bought a house with your mothers money and put it in her own name? Then sells it and gives the money that was not hers to give, to you.
This is correct but after giving witnessed permission in front of solicitor.
It's legal, sister sold her house and gifted you some of the proceeds.I now don't know if the money I have in my account is legal (it came from the sale of sisters house not Mum's), if it's taxable if it's subject DoA rules etc because of that I don't feel comfortable touching a single penny of it.
You are making it sound as if she/we have purposely stole her money and thrown her onto the street.so your sister bought a house with your mothers money and put it in her own name? Then sells it and gives the money that was not hers to give, to you.
I have discussed it with her, she says is fine we have dealt with it with my father but it does concern me.I hope your sister is not underestimating the stress of caring for a PWD as the dementia progresses.
If opting for no assessment and you and sister chipped in equally it could be a large sum for each of you, let's guess £500/wk at present, although members living in some areas will say this is far too low.Yes absolutely