My wife and I sold her 93-year-old father’s house for £100,000 last year and moved him to a rented bungalow in our village.
We invested the money in fixed-rate bonds, £20,000 for six months and £80,000 for 12 months.
My father-in-law is relatively immobile, so for convenience we opened the bonds in my wife’s name, realising that should he ever need to go into care, the local authority would claw this money back.
At the time we had many issues to contend with, including my wife’s long-term health, so this was the easiest solution. With the six-month bond approaching maturity, we have been wondering whether we did the right thing.
My wife will inherit her father’s estate, but she would prefer the money to go