What's your opinion...... (inheritance)

[Taipan]

Maffs innit...

NI just ain't gonna cover care home fees, it doesn't even cover the stuff it's meant to cover already

I kinda agree with the argument of "why should I have to pay when the doleys who didn't try harder at school get it all for free?"...but then again, I (the hypothetical me anyway) got to spend the last six or seven decades with a considerably higher standard of living by virtue of my hard work. Scroungers* might get it free now, but they had to live a scroungers life up to this point.

I think I'd rather have it my way around!

*Other inflammatory trolley terms are available

No ones ever given me anything and an inheritance is unlikely, so it is galling, but the measure of a society is how benevolent it is. Like it or not, the contributors have to look after the ne'er do wells!

[gremlin]

Like it or not, the contributors have to look after the ne'er do wells!

Not now they're all going to be employed at the Camden People's Theatre. £50k a year!

https://www.bbc.com/news/articles/cd114jv832mo

[Taipan]

Like it or not, the contributors have to look after the ne'er do wells!

Not now they're all going to be employed at the Camden People's Theatre. £50k a year!

https://www.bbc.com/news/articles/cd114jv832mo

I'm in! I'll nick the till for my bonus!

[Skub]

In the 7 years my MIL was in need of nursing care,the care home fees were over £300k. They took every last penny of her savings and her house before she died.

How else could it be paid for?

If a family member can not be cared for at home by their own family and there are reasons why this may not be feasible,then I have no beef with paying my way,but the level of care does not reflect in the amount of money being taken. Care homes are a business and the inmates are a profitable commodity. A little less profiteering and a better level of care would be more ideal. How does Scotland manage the issue without raiding the assets of elderly folk?

[gremlin]

[How does Scotland manage the issue without raiding the assets of elderly folk?

Have you seen the typical Scottish diet? Most don't live to retirement age.

[Potter]

In the 7 years my MIL was in need of nursing care,the care home fees were over £300k. They took every last penny of her savings and her house before she died.

How else could it be paid for?

If a family member can not be cared for at home by their own family and there are reasons why this may not be feasible,then I have no beef with paying my way,but the level of care does not reflect in the amount of money being taken. Care homes are a business and the inmates are a profitable commodity. A little less profiteering and a better level of care would be more ideal. How does Scotland manage the issue without raiding the assets of elderly folk?

Car homes are properly lucrative, I know a lad who's family owns a bunch of them and they gifted him a couple, which turned him into an instant playboy, never having to work or do anything, he just owns them and rakes in huge profit every year.

I'm also happy to pay my way, I pay UK tax where applicable and I"ve always paid NI even when I didn't live in the UK for years, but it takes the piss when they could strip my kids of a fair and honestly earned inheritance to pay for my care home, but the bloke down the road that didn't make any of the sacrifices I have or worked his arse off like I did will get it all for free.

[Noggin]

I started to do a will before my shoulder op (didn't ever finish it partly due to the French inheritance laws meaning I needed to do a lot of sorting/organising first and also, it felt a bit negative to do it just before an op!! ) and the laws here are soooooo old!!

Ok, I get that the law is to protect families - you can't disinherit a child. But the tax part of it means that anyone that has no immediate family will leave a LOT less of what they have because of tax.

The amount of inheritance tax owed by the heirs depends on their relationship to the deceased person and the value of the assets inherited. In general, the closer the relationship, the lower the tax rate. For example, spouses and children are subject to lower tax rates than distant relatives or non-relatives.

Children and parents have a tax allowance of 100,000 euros each. This means that the first 100,000 euros inherited by each child or parent is exempt from inheritance tax.
Grandchildren and great-grandchildren, on the other hand, have a lower tax allowance of 1,594 euros.
Direct Succession Tax Rate: The applicable tax rate in the case of direct succession, where the inheritance passes directly to children, parents, or grandparents, is determined based on the value of the inheritance. Therefore, the tax rates for direct succession range from 5% to 45%. As the value of the inheritance increases, the corresponding tax rate also increases.

Indirect Succession Tax Rate: In the case of indirect inheritance, where the heirs are family members beyond the fourth degree or unrelated individuals, the tax rate is higher. In these cases, the tax rate increases to 60% of the net taxable value.

Soooo, because I'm not married and have no children, the rate of tax will be about 60%

I wanted to leave anything I have to my niece and nephew. As the rate of tax is so high, I thought I'd leave it to my brother as the rate is lower and I trust him to pass it on to the kids. BUT - he's my step brother, so I think that is a fail

So, because I've never had kids and am not married, the government gets 60% of anything I have (not much TBF!!)

That sux big ones!

Once I do have stuff pretty sorted here I need to find out about life insurance to cover the tax

[Count Steer]

I thought if your care is 'subbed' you don't get much choice of care home and one of the reasons to liquidate assets like house etc was so you can go to a decent one. I thought there were tales of people spending ££s on nice care homes, the money running out when they lasted longer than expected and the local authority moving them into 'less than pleasant' places (which probably hurried up their demise).

I guess if there are 'care homes of last resort' for those with no ££s and those with ££s get a better one people might feel less aggrieved but they'll still siphon off your savings even if you go to Honest Eileen's Abuse Home for the Elderly.

From what I've seen of them I want to spend as little time as poss in one so would probably drain the resources on home help until I was past caring where I was.

[Horse]

I thought if your care is 'subbed' you don't get much choice of care home and one of the reasons to liquidate assets like house etc was so you can go to a decent one. I thought there were tales of people spending ££s on nice care homes, the money running out when they lasted longer than expected and the local authority moving them into 'less than pleasant' places (which probably hurried up their demise).

From what I've seen of them I want to spend as little time as poss in one so would probably drain the resources on home help until I was past caring where I was.

I've seen one that's like a good hotel, another that was 'basic'. My dad was in the first for 6 weeks after hospital, then into the second. No choice on either. Luckily, staff in both were good. Social services paying.

FinLaw moved into the same good one, self-funded. Initially from savings, his flat sold the day after he died! As a permanent resident, you have to prove ability to pay way into the future.

[Cousin Jack]

I thought if your care is 'subbed' you don't get much choice of care home and one of the reasons to liquidate assets like house etc was so you can go to a decent one. I thought there were tales of people spending ££s on nice care homes, the money running out when they lasted longer than expected and the local authority moving them into 'less than pleasant' places (which probably hurried up their demise).

I guess if there are 'care homes of last resort' for those with no ££s and those with ££s get a better one people might feel less aggrieved but they'll still siphon off your savings even if you go to Honest Eileen's Abuse Home for the Elderly.

From what I've seen of them I want to spend as little time as poss in one so would probably drain the resources on home help until I was past caring where I was.

We have a local care home which is alleged to be good. It is bloody expensive, and AFAIK isn't used by the council. Some of the council-used ones were so bloody bad they got closed down by the CQC.