Leaving money to grandchildren

Well there you go Gerry !!!

Not many people start a new line every time they start a new sentence.
Is it a man thing I wonder?

Don't encourage him Nonu

Yawn

Actually Gerry has got a point with that last line. I think.

AKA

What, jingl - "Gerry"?

The bit where G says about local authority should be allowed to claim back money willed to grandkids, to pay for care home fees.

No!!! Not "Gerry" yer daffie oompah!

Gosh your brain is definitely working overtime today Gerry. I don't have grandchildren so am leaving everything to nephews and nieces - does that count

I am working on there not being anything to leave to anybody...

j08

I think the point you are missing is the money has been willed by the grandparents to the grandchildren so at no point has it been the parents money to be used for care home fees.

Even if the parents hold the money in trust for the children it is still not the parents money.

Frank

Gerry

Under English law a person can will their estate to anybody they like including the grandchildren.
The tax situation regarding the parent's estate does not come in to the equation.

Frank

Yes, that's true!

Does this mean I could leave my estate to you Frank?

Hi Galen

Yes you could leave your estate to me.

Frank

But you'd have to pay40% on it!

Yes Frank, but it would be a good way of getting out of having to use your own money to pay for your own care. (I wouldn't do it though!)

No it wouldn't work! You'd be dead by then wouldn't you?

You need to give it all away before you get old enoough to need care! Or spend it (even better )

That's what I'm trying to do two cruises booked at present. Where do I go next? I've always wanted to see india

You could leave some to DGC, Galen! Better than leaving it to Frank, anyway...

Sounds good to me GALEN, where are you off to next on your cruises?

I am afraid you could not get me to India for all the tea in China , Too busy .

Do like curry though !

Oh! But Frank would take such good care ot it