WalkleyIan Posted April 13, 2015 Share Posted April 13, 2015 Family that cares for their elderly relatives deserve the money far more than the family that puts their relatives into care. My Mum was in tears the day Grandad was forced into care for his own safety (mental health act) by the state. She still blames herself today. Having worked as a porter / boiler man in the NHS he couldn't understand why the state then asked him to sell his council house that Mrs Thatcher had encouraged him to buy as he thought that one day he would pass it on to his kids. The house was duly sold at about half market value which in reality paid for a few of months of his care. Link to comment Share on other sites More sharing options...
Frederick1 Posted April 13, 2015 Share Posted April 13, 2015 Do most people end up going into a residential home when they get older? My wife and I are both nearing the end of our "tenure" but we agree that NEITHER of us would go in to one these "homes"! I have yet to come across one that could be called "home", my daughter has worked in a few of them and agrees! My son also, before he died, worked in them and they both said they would not let either of us go there. I get the impression they are not what they are made out to be. ---------- Post added 13-04-2015 at 09:40 ---------- But then Cameron doesn't think anyone exists beyond Watford gap. If it was up to him he'd build a wall right across to keep out the Picts. It would also keep the parliamentarians IN Anna! :) ---------- Post added 13-04-2015 at 09:41 ---------- And why not? It's a taste of their own medicine But why leave Labour out of it??? ---------- Post added 13-04-2015 at 09:45 ---------- And 9.2million people over 65. Any party that ignores this figure does so at their peril. It is mainly older people that tend to vote (I know I always do!). Link to comment Share on other sites More sharing options...
Berberis Posted April 13, 2015 Share Posted April 13, 2015 They're talking about only raising the threshold for family homes. Look at it on the BBC website. The Prime Minister is setting out reforms which will mean parents and grandparents can leave their homes and other assets worth up to £1 million entirely tax-free to younger generations. http://www.telegraph.co.uk/news/general-election-2015/11530440/Tories-pledge-inheritance-tax-cut-for-millions.html £1 Million houses is the headline. Link to comment Share on other sites More sharing options...
Frederick1 Posted April 13, 2015 Share Posted April 13, 2015 Why is it fair for your kids to get plenty when some kids will get nothing? Sorry loraward - since when has life ever been fair??? :confused: Link to comment Share on other sites More sharing options...
evil woman Posted April 13, 2015 Share Posted April 13, 2015 Yep...there's a good percentage that do, that don't have a house worth over 1 million...Maybe you're different? I thought the policy was for homes under £1 million. So a £100,000 house is in that band. A £1,000,100 house isn't. Link to comment Share on other sites More sharing options...
JFKvsNixon Posted April 13, 2015 Share Posted April 13, 2015 The Prime Minister is setting out reforms which will mean parents and grandparents can leave their homes and other assets worth up to £1 million entirely tax-free to younger generations. http://www.telegraph.co.uk/news/general-election-2015/11530440/Tories-pledge-inheritance-tax-cut-for-millions.html £1 Million houses is the headline. The Tories are talking about offering higher family home allowance as opposed to just talking about increasing the inheritance tax allowances, so I assumed that the idea applied only to family houses. Link to comment Share on other sites More sharing options...
Berberis Posted April 13, 2015 Share Posted April 13, 2015 The Tories are talking about offering higher family home allowance as opposed to just talking about increasing the inheritance tax allowances, so I assumed that the idea applied only to family houses. The media are substituting "Estates" for "Homes" in their headlines and this is the cause of the confusion. Link to comment Share on other sites More sharing options...
Localman Posted April 13, 2015 Share Posted April 13, 2015 So how much money should you be allowed to give your children before they have to pay tax on it? Why any more than a token amount? [Although I might be prepared to push the token to, say, £10,000.] When your parents and in-laws reach their 90s, this issue is right in front of you. Suffice to say that my spouse and I and all our siblings have told our parents that we do not want them to leave us anything more than tokens of family historical importance. Similarly, our children all know - and are happy with the fact that - we will leave them nothing other than tokens........ although I did offer to leave my overdraft to be shared between them. Link to comment Share on other sites More sharing options...
loraward Posted April 13, 2015 Share Posted April 13, 2015 Sorry loraward - since when has life ever been fair??? :confused: When everyone got to keep what they worked for and got to hand it down to their offspring without it being taxed Link to comment Share on other sites More sharing options...
Berberis Posted April 13, 2015 Share Posted April 13, 2015 Personally speaking, if the Royal's don't have to pay Inheritance Tax, the rest of us shouldn't either. Link to comment Share on other sites More sharing options...
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