Elderly family friend offeing my large cash gift

[Guest]

My elderly friend has on numerous occasions offered me a large cash gift 115k why this figure I don't know (I have declined saying he may need it) his estate will be worth 750k and going up, I am, he tells me his main beneficiary, I do help him,* shop go to appointments, etc etc we get on really well and I can tell he is greatful for my company and friendship his small family live abroad and he doesn't get on well with them and has only seen and heard from them a couple of times in the last 10plus years,* I have noticed his disappointment when I decline the gift,* I am his lasting power of attorney and always have his best interests at heart (I have told him to discuss the gift with his solicitor to confirm it is a good ideal) my friend comments on this,* saying he will make his own decisions regardless of what someone else thinks is a good idea or not,* he has been offering me this gift for the last 18months plus
Thanks in advance*

[Amethyst]

You are doing exactly the right thing in turning it down and advising him to talk to his solicitor.

Is he likely to need to go into the care system in the future ? Large cash gifts made within seven years could be framed as avoidance of care home fees ( likely his solicitor would advise him on that )*

*If he has a will he can leave you a specific cash gift in that if he so wishes and has it available in his estate, however forewarned is forearmed, and families tend to pop out of the woodwork upon a death so ensure now, while acting as his power of attorney, that you have full records of everything in case there ends up being a challenge from them over how he has chose to distribute his estate on passing.*

If he doesn't have a will ( with his attitude of no one tells him what to do with his money ) then his estate would all go *to his family - estranged or not. So if he wants to retain some control after he passes he needs to make a will - he can discuss his gift intentions at the same time.*

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