MiL has gone into care.(self-funded) House has been sold, an anuitiy has been purchased to cover the fees, less her pensions income.
So is now fully costed for the remainder of her life.
There is quite a surplus of funds remaining. (Hard working late husband, with good investments over the years!)
Could an interest bearing loan be made to a Grandchild? (BoE base rate +1/4%)
Or could the money be used to buy a property to rent out? (investment property)
Having the money in a savings, or worse, a current account, would be of no investment value.
Would either of these ideas need Court of Protection permission?
Bod.
So is now fully costed for the remainder of her life.
There is quite a surplus of funds remaining. (Hard working late husband, with good investments over the years!)
Could an interest bearing loan be made to a Grandchild? (BoE base rate +1/4%)
Or could the money be used to buy a property to rent out? (investment property)
Having the money in a savings, or worse, a current account, would be of no investment value.
Would either of these ideas need Court of Protection permission?
Bod.