My SIL is struggling with her mortgage, while her DF has got about 800k sat there in investment funds (plus a small flat he lives in that's paid off).
He would like to give her a sum to pay off her mortgage (about 70k) but has been warned by a financial advisor that if he needs care and runs out of money they will check through his statements for any money he's given away.
It seems that there's no set amount of money, or set number of years, on which to base this decision (like there is with inheritance tax) She thinks he should be cautious but I can't see anyone chasing her down for the 70k in X number of years time, given that he would still have hundreds of thousands left to pay for care.
Has anyone any experience of this? Wouldn't it make sense for the government to say "you can't give away more than 10% of your assets within X years of needing care" so it's more clear cut?