Mum gives me her house, how to deal with care costs later on
Discussion
My mum is moving house and wants to "give" her new place to my brother and I so that if things deteriorate and she has to go into care later in life we won't lose out inheritance (it's a bungalow in Lincolnshire, not a manor hose in Surrey, so no inheritance tax). Let's say she gives bro and I the house, and in 15 years gets Alzheimer's and needs to go into sheltered housing or a care home. What steps can a council take to make bro and I pay for her care ? Does she need to pay us a peppercorn rent to make sure we are secure to keep or sell the house for ourselves ?
Apologies if this sounds selfish, but my dad worked hard all his life to buy the family home and I'm not in a frame of mind to kiss that goodbye.
Thanks in advance.
Apologies if this sounds selfish, but my dad worked hard all his life to buy the family home and I'm not in a frame of mind to kiss that goodbye.
Thanks in advance.
Patrick1964 said:
Apologies if this sounds selfish, but my dad worked hard all his life to buy the family home and I'm not in a frame of mind to kiss that goodbye.
Sorry but it does sound selfish. Are you saying that you don't want to have to spend money that your parents have earnt and ineffect given you free to ensure that you and your brother can keep it and your Mother would receive the most basic support that the state is prepared to give?The system may be wrong but it is what it is.
You and Your mum need to visit a council care home and a private / Bupa one and then decide if your mum has worked all her life to spend her last years in a council home.
Once we saw the council homes we didn't need to discuss it and gladly paid however we did launch a claim for part funding that is still being handled 3 years after her death.
Once we saw the council homes we didn't need to discuss it and gladly paid however we did launch a claim for part funding that is still being handled 3 years after her death.
mikees said:
Nothing in 15 years as the law stands. Limit is 7. Even then sell it and pay for care. Not end of world. Just don't move in !
Sorry, but your abbreviated post leaves me uncertain - are you saying that if the house is in my brother and i's name for seven years then no council will have any claim on it ?She may never need to go into care. Massive difference in sheltered costs to care homes (roughly 1 week in a nursing home = 1 month in sheltered) and unlikely advanced Alzheimers would be considered by a sheltered provider.
Unlikely a council would look back 15 years.
Remember extra 3% stamp duty.
Unlikely a council would look back 15 years.
Remember extra 3% stamp duty.
stuartmmcfc said:
Sorry but it does sound selfish. Are you saying that you don't want to have to spend money that your parents have earnt and ineffect given you free to ensure that you and your brother can keep it and your Mother would receive the most basic support that the state is prepared to give?
The system may be wrong but it is what it is.
I would like to be able to make the decision myself as to how much is contributed, rather than have a council try to make up it's deficit with our house, yes. If you think that is selfish, then you are welcome to that opinion, but sadly my own circumstances may mean I am in more need than you.The system may be wrong but it is what it is.
stuartmmcfc said:
Sorry but it does sound selfish. Are you saying that you don't want to have to spend money that your parents have earnt and ineffect given you free to ensure that you and your brother can keep it and your Mother would receive the most basic support that the state is prepared to give?
The system may be wrong but it is what it is.
I don't think this is the intent of the OP. No harm in planning for future events.The system may be wrong but it is what it is.
stuartmmcfc said:
Sorry I do think it's selfish and believe me, if you've read some of my posts over the years, you'd know that my own situation is pretty grim 
Then I guess we will have to agree to differ, and given that you haven't contributed to the thread to answer a question, but only to criticise, I hope you will understand if I ignore your opinion. stuartmmcfc said:
Good, because although I have plenty of first hand and recent experience on this and how councils decide on contributions towards care, I'm not sure of your motives.
I'm out.
Stuart, would be great if you could use that experience to help out. Maybe from a different angle?I'm out.
Edited by stuartmmcfc on Wednesday 18th May 20:24
Btw, Liverpool are winning 1-0 if anyone's interested
stuartmmcfc said:
Good, because although I have plenty of first hand and recent experience on this and how councils decide on contributions towards care, I'm not sure of your motives.
I'm out.
jeez. get a skin. Im interested to hear anything you may want to contribute on it. its a forum after all.I'm out.
Edited by stuartmmcfc on Wednesday 18th May 20:24
It depends what county you live in; some are more aggressive than others, and I believe that they CAN go back more than 6-7 years to look for disposal of assets if they feel like it.
You might do better to look at a trust - the specific badger you want may be a 'discounted gift and loan trust' - but get professional advice from someone who knows about inheritance tax planning. Don't get it wrong because there's 100s of Ks at stake.
You might do better to look at a trust - the specific badger you want may be a 'discounted gift and loan trust' - but get professional advice from someone who knows about inheritance tax planning. Don't get it wrong because there's 100s of Ks at stake.
desolate said:
Where will she live in the meantime?
And even nice, expensive care homes are pretty depressing.
I'd tell her to forget about the inheritance and get on with living.
There is no inheritance to consider And even nice, expensive care homes are pretty depressing.
I'd tell her to forget about the inheritance and get on with living.
There may be no care home to consider.
OP is being eminently sensible in planning imho.
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