Advice needed about 50k Gift from my parents

[DeeKie]

I may receive a 50k gift from my parents soon. At a later stage they might leave me enough to exceed the tax free threshold. I was thinking of asking each to give me 3k this year. Then the balance next year. To gain some advantage of the same gift exemption. That makes sense right?

 

[David1234]

You could call it a €50k loan where you pay back €6k per year.

Do you have a partner or kids? The €3k per person per year can be given to anyone.

 

[DeeKie]

I think that the risk of a loan is that an unexpected death means that the amount is in the estate. Great point regarding the children and their gift allowance. Thanks

 

[jpd]

Are you allowed to break into your kid's piggy bank to purloin the grandparents gift of € 3,000 to their grandchild?

 

[Sue Ellen]

There is some information in this previous thread about gifts/loans amongst family. There are some others here also.