Fair deal scheme - 5 year lookback

S

Sunnysoutheast

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If money was transferred to children of the parent going into a nursing home (within the last 5 years), is the amount reckonable for the fair deal scheme the amount transferred minus the €3000 yearly gift to child/child's spouse and grandchildren or is it the gross amount I.e. the full amount transferred?
Thanks!
 
Hypothetically, what would happen if a person divested themselves irrevocably of ALL assets within the five year period and then presented to Fair Deal with the proverbial one arm as long as the other?
 
Baby boomer said:
Hypothetically, what would happen if a person divested themselves irrevocably of ALL assets within the five year period and then presented to Fair Deal with the proverbial one arm as long as the other?
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I suppose they'd be asked where they stayed and how they lived for the past 5 years. That would be for starters, but as you say, it's all hypothetical.
 
Baby boomer said:
Hypothetically, what would happen if a person divested themselves irrevocably of ALL assets within the five year period and then presented to Fair Deal with the proverbial one arm as long as the other?
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Are you asking what happens when someone lies on the application form and signs the legal declaration that all the information is correct ?
 
huskerdu said:
Are you asking what happens when someone lies on the application form and signs the legal declaration that all the information is correct ?
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Of course not. Suppose a person - absolutely truthfully - states on the application form that they have no assets, and further states that they have irrevocably given them away in the previous 5 years, what happens then?


noproblem said:
I suppose they'd be asked where they stayed and how they lived for the past 5 years. That would be for starters, but as you say, it's all hypothetical.
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They might well have been living with relatives and be maintained by them. Or they might have a very small pension.
 
Sunnysoutheast said:
Thanks. It doesn't say anything about the €3k annual gift allowance in the deductions so perhaps it is the full amount that is assessed, not the full amount minus the €3k?
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Anyone can give €3k to whoever they like once a year. I doubt they'll be asked to account for where it came from, unless they can't do that. As for someplace to live, see below;

[email protected]​


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noproblem said:
Anyone can give €3k to whoever they like once a year. I doubt they'll be asked to account for where it came from, unless they can't do that. As for someplace to live, see below;

[email protected]​


​

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Thanks, we have a nursing home place already, we just need to fill out the application form for the fair deal scheme and wondering do we need to include cash transferred a few years ago minus the 3k allowance or the full amount of cash transferred.
 
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Sunnysoutheast said:
Thanks, we have a nursing home place already, we just need to fill out the application form for the fair deal scheme and wondering do we need to include cash transferred a few years ago minus the 3k allowance or the full amount of cash transferred.
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@Sunnysoutheast .. it's the full amount. There is no allowance for the €3,000 annual gift.
 
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