My Mum and her DP are going to buy a property together.
My Mum owns her own home and my brother and Nan live with her.
Mum's DP still lives at home with his parents.
The plan is that Mum & DP will buy the hse together in their names, but my Nan, brother AND his parents will go and live with them. (!)
They are going to buy a house together; Mum will pay for her half of the hse using the sale proceeds of her current home and DP will use his savings plus money from his parents. This is the bit that is confusing me. They are not going to give him his money directly i.e pay the money directly into his bank account; once Mum and Dp are on the verge of buying their new home, his parents are going to write the solictior a bankers draft and give him his money that way, therefore bypassing his bank account. I understand they are doing this to avoid inheritance tax.
My concern with this is - will they then have a claim on the house? Their money trail will lead to the house. This could impact on my Mum, could it not?
Mum claims to have sought legal advice and has assured me that everybody is going to be 'looked after', by that she means that my brother and I will still get our inhertiance, but I'm more concernd about what DP's parents are doing.
If you are wondering, my brother is still quite young and still lives at home and my Nan moved in with my Mum after my Mum and Dad got divorced. My Nan gave up her hse to my Dad as part of the divorce settlement. It was a very selfless thing to do, but she also needs a bit of care so it made sense to do it that way.
DP's parents have got a few quid and own their own home which they don't need to sell in order to give DP his money, they are just dipping into their savings, but they want to still live with their son because they need caring for.
Apologies for the long post, but any advice would be gratefully recieved!