Helena said:
I have thoroughly researched the whole scenario of Equity release both from the view of releasing funds and from the view of reducing my assets liable for Inheritance Tax
Hi Helena - absolutely agree with you in terms of the 'no such thing as a free lunch' - HOWEVER ....
I will openly admit that one 'stunner' in all this is realising what might have been a fairly humble inheritance may now well go into NH / care fees but at the end of the day, my mum's biggest asset is her home ... my mum and dad worked damned hard for it ... now I have to recognise that her home may have to 'work for her'.
That 'humble inheritance', were it ever to materialise, may help recompense (financially) for the years I have either not worked (in paid employment) or only been able to hold down a part-time job because of 'caring' responsibilities..... but that has been my choice.... I don't feel inheritance is some 'right' to expect ....
In terms of 'stunners', inheritance seems so insignificant.... realising that no money in the world can secure mum's health and happiness is tough (e.g., private medical care has been a Godsend and undoubtedly a 'lifesaver' in the past).
I don't want to take a 'moral high ground' but if any measurable 'assets' mum has can be put to help HER - then SHE is the one earned the benefit of them..... if that means a percentage of her assets go to some private 'enterprise' and not me... then so be it... if that's the road we have to travel....
I'm so grateful to Tressa for highlighting a possible option which I personally can bear in mind for the future.... and grateful that there IS an element of safeguarding money/assets in my particular situation..... for some people, 'money worries' are of an entirely different nature.....
Perhaps I am naive to think of the 'here and now', not the future without mum. Blast any damned inheritance!!! Money is only money.....
TF