My mother passed last year, my father has just been moved to a smaller property as his mobility declined dramatically past year and he has dementia too. Can equity that’s had to be put in a trust account be used to pay off my sisters mortgage? Or would that constitute a gift as officially he inherited it all, albeit in a trust me and my sister being trustees?
A little over negative on trusts of the Principal Private Residence - very useful for business people & professionals especially with modest dwellings (£325,000 per owner) where things can go unexpectedly wrong and they can save IHT for FUTURE generations. I do agree that too many are sold to "avoid care fees". Keep up the good work!
