mozam76 Posted June 23, 2022 Share Posted June 23, 2022 (edited) 3 minutes ago, Day of the Lords said: Capital includes stuff like shares, bonds, property owned outright etc. It's not just cash in the bank. I have some vague recollection of there being a 5 year limit on this stuff. IE moving money and capital about, changing house ownership etc a year before someone goes into residential care wouldn't fly. It's seven years. Edited June 23, 2022 by mozam76 beaten to it by the incomparable Zen 1 Quote Link to comment Share on other sites More sharing options...
Benjamin_Nevis Posted June 23, 2022 Share Posted June 23, 2022 2 minutes ago, Zen Archer (Raconteur) said: IIRC the period where you could hand over property to a relative for example used to be 7 years, once this time had elapsed the property was untouchable. Just now, mozam76 said: It's seven years. Cheers, as i say it's not really my area. I had a chat with my parents about this stuff when he became terminal and mum was going to move into Sheltered Housing. Never properly looked into it though and thankfully mum's decided to stay at home and do up the house a wee bit at a time. Massively helped to take her mind off things for the first few months after he died. 0 Quote Link to comment Share on other sites More sharing options...
Zen Archer (Raconteur) Posted June 23, 2022 Share Posted June 23, 2022 Just now, Day of the Lords said: Cheers, as i say it's not really my area. I had a chat with my parents about this stuff when he became terminal and mum was going to move into Sheltered Housing. Never properly looked into it though and thankfully mum's decided to stay at home and do up the house a wee bit at a time. Massively helped to take her mind off things for the first few months after he died. A caveat to the timescale, if the person who signed over the property dies within the 7 years, the inheritor is liable for all sorts of shit. 1 Quote Link to comment Share on other sites More sharing options...
invergowrie arab Posted June 23, 2022 Share Posted June 23, 2022 2022 and folk still buy the work hard and save bullshit. The vast majority of people with money were given it. I reckon the cleaner up at 4am probably works hard too. 18 Quote Link to comment Share on other sites More sharing options...
Bairnardo Posted June 23, 2022 Share Posted June 23, 2022 42 minutes ago, Zen Archer (Raconteur) said: A caveat to the timescale, if the person who signed over the property dies within the 7 years, the inheritor is liable for all sorts of shit. Think it's changed a few times in recent years to make it harder and harder, meaning folk are doing this stuff when they are still relatively young, and genuinely unsure whether or not their kids are in fact, bams who will take the roof from over their head. Guy at my work said he had a very Frank conversation with his lawyer re being absolutely sure his kids weren't arseholes. 1 Quote Link to comment Share on other sites More sharing options...
stumobir Posted June 23, 2022 Share Posted June 23, 2022 Average age of a nursing home resident is 85, they’re leaving it a bit late to give their kids a leg up with their inheritance. 1 Quote Link to comment Share on other sites More sharing options...
Aufc Posted June 23, 2022 Share Posted June 23, 2022 The inheritance chat always divides opinion between people who stand to inherit something and people who don’t. Not really any middle ground. I stand in the former so I would just like to say f**k inheritance tax -1 Quote Link to comment Share on other sites More sharing options...
Clown Job Posted June 23, 2022 Share Posted June 23, 2022 f**k the Tories, Mon the workers They’d be fucked without us 1 Quote Link to comment Share on other sites More sharing options...
Left Back Posted June 23, 2022 Share Posted June 23, 2022 13 minutes ago, Aufc said: The inheritance chat always divides opinion between people who stand to inherit something and people who don’t. Not really any middle ground. I stand in the former so I would just like to say f**k inheritance tax What about people that want to leave something? 0 Quote Link to comment Share on other sites More sharing options...
Marshmallo Posted June 23, 2022 Share Posted June 23, 2022 We can only be 2 or 3 posts away from someone stating that structuring your estate to pass as much of your wealth on as possible can somehow still mean "AM WORKIN CLASS!" 4 Quote Link to comment Share on other sites More sharing options...
Bairnardo Posted June 23, 2022 Share Posted June 23, 2022 What about people that want to leave something?The whole thing needs a societal shift in attitudes tbh. These things take time. Probably the best all round is to just spank all your money as best you can whilst still able to enjoy it. It's hard though. Folk hoard, and once they have a pile they try to protect it. I think its in the category of human nature, or at least as I said before, drilled in over generations of obsession with home ownership. 0 Quote Link to comment Share on other sites More sharing options...
Glen Sannox Posted June 23, 2022 Share Posted June 23, 2022 21 minutes ago, Left Back said: What about people that want to leave something? Woe betide them. Fascists basically. -1 Quote Link to comment Share on other sites More sharing options...
Left Back Posted June 23, 2022 Share Posted June 23, 2022 7 minutes ago, Bairnardo said: The whole thing needs a societal shift in attitudes tbh. These things take time. Probably the best all round is to just spank all your money as best you can whilst still able to enjoy it. It's hard though. Folk hoard, and once they have a pile they try to protect it. I think its in the category of human nature, or at least as I said before, drilled in over generations of obsession with home ownership. That’s never going to happen in the real world. You’ll always get haves that want to keep what they’ve accumulated (by whatever means) and have nots who think the haves should be paying more tax etc. This isn’t unique to the UK. It’s the same across the globe. 0 Quote Link to comment Share on other sites More sharing options...
Inanimate Carbon Rod Posted June 23, 2022 Share Posted June 23, 2022 Arent tories just fucking horrible? 9 Quote Link to comment Share on other sites More sharing options...
Bairnardo Posted June 23, 2022 Share Posted June 23, 2022 5 minutes ago, Left Back said: That’s never going to happen in the real world. You’ll always get haves that want to keep what they’ve accumulated (by whatever means) and have nots who think the haves should be paying more tax etc. This isn’t unique to the UK. It’s the same across the globe. Yeah. In the end, we're all just dung beetles. Spend your whole life moving your ball of shit around watching it grow bigger, its only natural you are going to try and guard your shit ball. It's a hard problem to solve but ultimately, the burden of care costs aren't going anywhere. 1 Quote Link to comment Share on other sites More sharing options...
invergowrie arab Posted June 23, 2022 Share Posted June 23, 2022 48 minutes ago, Aufc said: The inheritance chat always divides opinion between Tories and everyone else. I'm a massive Tory 1 Quote Link to comment Share on other sites More sharing options...
Aufc Posted June 23, 2022 Share Posted June 23, 2022 You can hate the tories and want to be successful and help your kids -1 Quote Link to comment Share on other sites More sharing options...
Aufc Posted June 23, 2022 Share Posted June 23, 2022 We can only be 2 or 3 posts away from someone stating that structuring your estate to pass as much of your wealth on as possible can somehow still mean "AM WORKIN CLASS!"I’m probably only a ride on mower away from being a posh c**t 0 Quote Link to comment Share on other sites More sharing options...
Left Back Posted June 23, 2022 Share Posted June 23, 2022 4 minutes ago, Aufc said: I’m probably only a ride on mower away from being a posh c**t Aren’t robotic mowers the thing to have these days? 0 Quote Link to comment Share on other sites More sharing options...
Clown Job Posted June 23, 2022 Share Posted June 23, 2022 0 Quote Link to comment Share on other sites More sharing options...
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