Mayfield05
New Member
- Messages
- 9
My father is 80 and I'm looking for some advice for him.
He lives with my sister (unmarried and never left the house) and they both looked after my ill mother for the last 15 years. She died in February. He has a good pension, second property small amount of cash and while not loaded he is comfortable.
The house that they live in is valuable and he wants to update it as they could do nothing with it while my mother is alive, so he needs a cash injection. He is talking about selling the second property so that he can update the family home, the cost of which will be substantial.
I'm concerned that he won't get financial advice. If my father gets sick and needs care the second home was going to pay for it. The objective is how can my father mobilise his assets in the most tax efficient way so that he can live comfortably for the rest of his days. There are 4 children and we all want to make sure he has what he needs. He is in the full of his health both mentally and physically. He won't sell the family home as my parents want this to go my sister who lives there but we are concerned that he hasn't thought it through properly.
He lives with my sister (unmarried and never left the house) and they both looked after my ill mother for the last 15 years. She died in February. He has a good pension, second property small amount of cash and while not loaded he is comfortable.
The house that they live in is valuable and he wants to update it as they could do nothing with it while my mother is alive, so he needs a cash injection. He is talking about selling the second property so that he can update the family home, the cost of which will be substantial.
I'm concerned that he won't get financial advice. If my father gets sick and needs care the second home was going to pay for it. The objective is how can my father mobilise his assets in the most tax efficient way so that he can live comfortably for the rest of his days. There are 4 children and we all want to make sure he has what he needs. He is in the full of his health both mentally and physically. He won't sell the family home as my parents want this to go my sister who lives there but we are concerned that he hasn't thought it through properly.