A question about money

DointhebestIcan

Registered User
May 24, 2014
9
0
Hello
I'm a first time poster on TP but I have read many threads and thank you all for being there. It's great to now you are all out there going through the same stuff!
My husband and I moved back from the US almost two years ago and moved in with his mum. We knew she had problems but she refused to get a diagnosis. We got her to the clinic and she has Alzheimers. I work full time and my husband works part time and takes care of MIL the rest of his day. She only ever wants to go out for coffee and lunch. Nothing else entertains her!
My brother-in-law has POA and the financial side runs smoothly. MIL has decent savings and owns the house. Having read a lot of folks stories I have learned about "depravation of assets" and although I think we are a long way from needing a care home we are trying to ensure we document all withdrawals from her account (new bathroom so she could have a walk-in shower) new bed and carpet to replace urine soaked ones etc. My niece is getting married and MIL has said she would like to give her £1000 to help with the wedding expenses. She would also like to give the other two grandkids £1000 each to pay for flights to attend the wedding (one in Texas, one in Australia). These would be done as transfers from her bank account. Does anyone have any advice about doing this as there won't be receipts or am I being paranoid? Thanks in advance for any thoughts.
 

jenniferpa

Registered User
Jun 27, 2006
39,442
0
Assuming your MIL really does have decent savings (and that can be subjective of course) there probably wouldn't be an issue with the £1000 as the wedding gift, but you might be on shakier ground with the other 2 grandchildren in my view. But it would be down to "what are decent savings". Over £100K I think it would be fine, £50K + maybe, anything less - hmm.

As to the receipt issue: the bank transfer statement would be adequate for that.