advice regarding friends sick mother

Postby del on Mon Sep 13, 2004 12:13 pm

a friend has recently been informed that her mother has perhaps 1 - 2 years to live.Because her mother needs 24 hour care she has been taken to a care home and will not return to her house.
It is unusual because the mother is only 50.
My friend does not live at the house as she has her own young family and the house is too small.
Her mother and father are divorced but the house is in both names, there is a small amount of mortgage outstanding on the house.

The surrounding houses are worth roughly £100,000, The care home costs £400 per WEEK. whilst everyone is distraught about the mother it seems unfair that all the mother and father worked for all their lives (including years of tax & NI) will be taken to pay for this care.

they are aware of the 7 year rule, i was however wondering if they sold the cost at a very low cost what would happen?

for example £50,000 stating that the mother was not able to look after the house and it required a large amount of work.
If this was not to a member of the family would anyone be looking that closely?

if this was from a trusted person they could then top this up with cash? meaning the exposure was limited.

am i pushing my luck?

regards derek
del
 
Posts: 1
Joined: Wed Aug 06, 2008 3:07 pm

Return to Property Taxes

Dorifor Internet Marketing Dorifor Tax Group - our portfolio of tax sites:

UK's largest independent tax portal All the tax books on one site global tax seminars, conferences and other events Global tax jobs portal List of UK recruitment agencies and employers