My father has substantial savings, a good pension and the family home is worth approx €350k.
He has a recent diagnosis of dementia although very much in the early stages. We hope to keep him at home for as long as is feasible. Fair deal doesn’t seem to be the best option for him given his assets.
I’m just wondering how we (myself and my sister) can do now to in terms of acquiring some of his assets without being hit by the taxman. I am married with two children and my sister has a long term partner (unmarried). It was mentioned that my dad could potentially pay for a car upgrade for me given that I do all the driving for him. Dad is alert and engaged but also very concerned regarding the assets my mother and himself gathered over the years. They lived frugally and saved for their old age (mom passed away suddenly 6 years ago). Dad would have more than enough to pay privately for nursing home care if circumstances were to change.
He has a recent diagnosis of dementia although very much in the early stages. We hope to keep him at home for as long as is feasible. Fair deal doesn’t seem to be the best option for him given his assets.
I’m just wondering how we (myself and my sister) can do now to in terms of acquiring some of his assets without being hit by the taxman. I am married with two children and my sister has a long term partner (unmarried). It was mentioned that my dad could potentially pay for a car upgrade for me given that I do all the driving for him. Dad is alert and engaged but also very concerned regarding the assets my mother and himself gathered over the years. They lived frugally and saved for their old age (mom passed away suddenly 6 years ago). Dad would have more than enough to pay privately for nursing home care if circumstances were to change.