Fair Deal and tax implications

[LorraineB]

A friend whom I am enlisted to act as Power of Attorney for may have to avail of Fair Deal in moving to a Nursing Home for full time care. My query is that as I will be completing the forms for him if I inadvertently omit any savings accounts he may have/had in the past 5 years (his filing is abysmal and memory very poor) will I be left liable if it turns out he has additional savings/or transferred savings in the last 5 yrs which I am not aware of. Also if I don’t have all the details documented correctly will his children have their inheritance deceased by this omission of information. Also will the taxman add interest penalties because of this omission. Has anyone had experience as to how much these charges are likely to be or how they are estimated. Any advice would be grateful.

 

[Thirsty]

any savings accounts he may have/had

Write to all the major banks & Post Office, local CU and if there's possibly a workplace CU (e.g. HSE CU) include that.

Give his name, any alias / nickname / as Gaeilge, DOB, known addresses & PPS number. Ask for a record search for any accounts. Send the letters by registered post.

This gives you documented evidence of due dilligence.

 

[Xraylady]

Write to all the major banks & Post Office, local CU and if there's possibly a workplace CU (e.g. HSE CU) include that.

Give his name, any alias / nickname / as Gaeilge, DOB, known addresses & PPS number. Ask for a record search for any accounts. Send the letters by registered post.

This gives you documented evidence of due dilligence.

A friend whom I am enlisted to act as Power of Attorney for may have to avail of Fair Deal in moving to a Nursing Home for full time care. My query is that as I will be completing the forms for him if I inadvertently omit any savings accounts he may have/had in the past 5 years (his filing is abysmal and memory very poor) will I be left liable if it turns out he has additional savings/or transferred savings in the last 5 yrs which I am not aware of. Also if I don’t have all the details documented correctly will his children have their inheritance deceased by this omission of information. Also will the taxman add interest penalties because of this omission. Has anyone had experience as to how much these charges are likely to be or how they are estimated. Any advice would be grateful.

It happened to us. Aunts Credit Union account only found by us when statement came, long time post Fair deal. We didn’t go to Hse then but during probate, few years later, Hse requested statement of accounts from solr and then claimed back portion of what they had paid, from estate. Not sure about penalties but no other repercussions. Genuinely didn’t know on application but of course should have declared to Hse as soon as we realised. We had simple FD. No loan against house.