Who Should Have Mum’s Sports Car?

Katie59

A 17yr old Mercedes SLK is not a classic, decide on a value, probably around £5k. Draw lots who gets it but it’s value is deducted from their other inheritance, it is sentimental value after all, it will be sold quickly if you don’t deduct the value.

The value cannot be deducted from the potential inheritance because the car is mum’s and therefore any money it produces needs to be put into mum’s bank account. She may well need the money to pay for her care home fees. It’s her car and therefore her money.

Correct.

I think having a draw is a good idea but on the previso that who ever wins pays the value of the car into your mum's bank Musky.

Find out what the car's value is so anyone wanting to be entered into the draw will know whether or not they can afford to buy it.

You cannot just give it away because you have POA it must be paid for or another member of the family could accuse you of depriving your mother of an asset .

Is mum asking for someone to have the car NOW?

Otherwise maybe reassure her it will be kept in the family as he other factors are too unpredictable. It won't lose its value stored safely.

This smacks horribly of people wanting first dibs - it simply, legally, isn’t on. End of.

Has Mum been involved in any of this so far?

If I was Mum I'd tell them that it's still mine and I intend to drive it again one day!

If mum wants to give it now (to whoever) she can -
Unless the PoA is active? I'm not sure if that's the case.

Thank you everyone for all your thoughtful advice. I didn’t make things clear enough in my post. Mum is not capable now of making rational decisions, hence the POA. If I ask her what she would like to happen to her car, she would tell me today and by tomorrow would have totally forgotten what she’d said or very likely changed her mind and tell one of my three Brothers something else.
I haven’t mentioned anything to her about this yet and apart from asking me “Is there a parking space here for my Mercedes? “ on the day she was brought by ambulance to the Care Home, very surprisingly she has never mentioned it at all.
There’s no immediate need to sell it to fund the fees.
I HAD requested an estimated value prior to posting ( from Parker’s) and viewed identical Mercedes model and year of cars currently for sale on Ebay. I hadn’t got as far as obtaining a true valuation from a Mercedes Dealership. The intention was not to “give” Mum’s car to a family member but to sell it to them (while she’s still alive seemed wrong) for the highest possible amount as part of her Estate ( maybe by asking for sealed bids at or above the market value).
The Grandson who is interested in the car has visited Mum once in the 10 months of her residence at the care home.
I am very clear on my responsibilities as her Attorney and everything I do is in her best interests.
I really do appreciate everyone’s comments on Gransnet, thank you again.

Sounds like you’ve got it covered Musky.