My father is due to accrue a large amount of money from share investments (roughly 18000 euro). As he is in receipt of a state pension and medical card, he is worried that he would lose his entitlement. He has thought about giving the money to me to mind for him, but would I be liable for gift tax? Any suggestions?
Have you checked if the welfare benefits that he is claiming would be affected by a means test that takes account of this windfall? He can gift you up to €467K in total without any liability arising.