Hi All
Wanted to see if anyone else has been through something similar, happy to involed mums solictor but also happy to avoid that if not required.
Dad passed away last year, had some money in is own bank account plus some super.
His estate is soon to be settled.
Mum now lives in aged care, just sold the house and even after paying the RAD mum is sitting quite well financially. The income her money generates covers her daily care fee, plus medication etc etc. even if she loses the pension as suspected.
She suffers severe depression and doesn't do anything so has no other expenses.
Sister is on a disability pension and mum has agreed to pay for a granny flat at my house so she can be close to me and I can help her.
Now I was just speaking to mum about Dads upcoming estate settlement and I asked her if there is anything specific she wants to do with the money, I assumed she would have said just do the same as the rest of her money.
But she said she would like to give it to my sister and I, she suggested we use that money for the granny flat and split the rest as she doesn't need it.
I have POA and as far as I understand I can't just transfer the money to myself, is it as simple as getting mum to sign something outlining what has been agreed upon or is it much more complex than that?
If I was to transfer myself the money how would I get in trouble if mum or my sister were both happy with the arrangement?
Would the bank question it?
I transferred the RAD to the NH no questions asked.