# Fair deal scheme and transfer of cash assets



## lionstour (22 Jul 2011)

If a person gifts cash assets to family members before availing of the scheme will these cash assets still be taken into account when assessing the persons income for the purposes of the scheme.


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## Black Sheep (22 Jul 2011)

*Income and assets 
*Income includes any earnings, pension income, social welfare benefits or allowances, rental income, income from holding an office or directorship, income from fees, commissions, dividends or interest, or any income which you have deprived yourself of in the 5 years leading up to your application. 
  An asset is any material property or wealth, including property or wealth outside of the State. Assets are divided into two distinct categories, namely cash assets and relevant assets. 
*Cash assets* include savings, stocks, shares and securities. *Relevant assets* include all forms of property other than cash assets, for example a person’s principal residence or land. In both cases, the assessment will also look at assets which you have deprived yourself of in the 5 years leading up to your application. 
  The assessment will not take into account the income of other relatives such as your children.


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## lionstour (22 Jul 2011)

Yes I have read that I am just not sure if this means that if someone gifts a cash sum to their family will the gifted sum be assessed as part of their assets even though it is gifted.


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## Berni (23 Jul 2011)

If it is done in the 5 years leading up to the application, then yes it is still considered part of the assets.
Otherwise, what would be stopping a person of considerable means "gifting" all their assets to their family and then claiming to be penniless?


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## lionstour (24 Jul 2011)

Berni said:


> If it is done in the 5 years leading up to the application, then yes it is still considered part of the assets.
> Otherwise, what would be stopping a person of considerable means "gifting" all their assets to their family and then claiming to be penniless?



Are you sure about this. Is the money given simply not considered spent. Is the above comment of yours opinion or fact?


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## mojo (24 Jul 2011)

The above is fact . If gifted within 5 years it is counted in the assessment of means


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