Inheritance question
Discussion
Looking for a bit of advice here,
My Aunt is in her late 90s, she has lives on her own and unfortunately suffers from Alzheimer's, she has recently had a couple of falls at home and as a result the hospital have decided she is lacking capacity and will need to be in full time care.
She is currently in emergency care until a suitable place can be found for her and finances are in place. self funded.
Around 15 years ago she sold her house to a bank, of sorts, with the agreement being she can stay in the house until she was no longer able to, or passed away. as it stands their is around 20k equity still in the house. along with around 8k in savings.
Her son has said he wants to give her grand kids their inheritance before she goes into care and gets eaten up by the care home fees.
Is their any issue with them doing this?
My Aunt is in her late 90s, she has lives on her own and unfortunately suffers from Alzheimer's, she has recently had a couple of falls at home and as a result the hospital have decided she is lacking capacity and will need to be in full time care.
She is currently in emergency care until a suitable place can be found for her and finances are in place. self funded.
Around 15 years ago she sold her house to a bank, of sorts, with the agreement being she can stay in the house until she was no longer able to, or passed away. as it stands their is around 20k equity still in the house. along with around 8k in savings.
Her son has said he wants to give her grand kids their inheritance before she goes into care and gets eaten up by the care home fees.
Is their any issue with them doing this?
I'm no legal expert but as I understand it she would have had to sign her house over to someone 7 years before going into care in order to avoid having to use her house to help pay. That may have changed or not be 100% accurate but that's what I was told.
There's some info on here about thresholds and stuff:
https://ukcareguide.co.uk/avoiding-care-home-fees/
I've been through this with my mother. My father died this year leaving the house and some money/policies to her. She has dementia and is in a care home now. She has to pay. Basically the care home costs twice that of any pension she gets so we are using her savings to top up the pension. We're also trying to get her house ready to sell. It needs a lot of attention. Basically, my brother and I are making a lot of effort to hand over money to care homes. I'm not sure what happens when that runs below the threshold or runs out. If she's still with us in a few years then all of the estate will have gone paying for care.
There's some info on here about thresholds and stuff:
https://ukcareguide.co.uk/avoiding-care-home-fees/
I've been through this with my mother. My father died this year leaving the house and some money/policies to her. She has dementia and is in a care home now. She has to pay. Basically the care home costs twice that of any pension she gets so we are using her savings to top up the pension. We're also trying to get her house ready to sell. It needs a lot of attention. Basically, my brother and I are making a lot of effort to hand over money to care homes. I'm not sure what happens when that runs below the threshold or runs out. If she's still with us in a few years then all of the estate will have gone paying for care.
DSLiverpool said:
Also, why should she have a 2nd class home if she can afford a better one - you have to be a real hard-faced git to deny an elderly person something they can afford because you or your kids want trinkets (not you OP)
I believe the homes she is on the waiting list are nice. and her pensions would be used to fund a % of her care. Does the quality of care change between local authority funded, or self funded?gtsl said:
I believe the homes she is on the waiting list are nice. and her pensions would be used to fund a % of her care. Does the quality of care change between local authority funded, or self funded?
Depends on her incomeIf her pensions are more than 17k she has to contribute towards the costs I think.
gtsl said:
Looking for a bit of advice here,
My Aunt is in her late 90s, she has lives on her own and unfortunately suffers from Alzheimer's, she has recently had a couple of falls at home and as a result the hospital have decided she is lacking capacity and will need to be in full time care.
She is currently in emergency care until a suitable place can be found for her and finances are in place. self funded.
Around 15 years ago she sold her house to a bank, of sorts, with the agreement being she can stay in the house until she was no longer able to, or passed away. as it stands their is around 20k equity still in the house. along with around 8k in savings.
Her son has said he wants to give her grand kids their inheritance before she goes into care and gets eaten up by the care home fees.
Is their any issue with them doing this?
I have been through this last year when my father went and no he can not do what he wants to do My Aunt is in her late 90s, she has lives on her own and unfortunately suffers from Alzheimer's, she has recently had a couple of falls at home and as a result the hospital have decided she is lacking capacity and will need to be in full time care.
She is currently in emergency care until a suitable place can be found for her and finances are in place. self funded.
Around 15 years ago she sold her house to a bank, of sorts, with the agreement being she can stay in the house until she was no longer able to, or passed away. as it stands their is around 20k equity still in the house. along with around 8k in savings.
Her son has said he wants to give her grand kids their inheritance before she goes into care and gets eaten up by the care home fees.
Is their any issue with them doing this?
A couple questions
Has her son got lasting power of attorney for health &Wealth (LPA) because he can not do anything without it
Are there any other brothers or sisters because they will have a say or they can go to the court of protection
Threshold for paying fo care is any assests above £23,000
They need to confirm that the house is theres to sell and lastly has she got a will because she may not want to give money to the son
So, the reasoning behind the distribution of savings was that her pensions would cover the cost of the care home, leaving any savings and proceeds from house sale untouched. This is why they thought they could give G/kids inheritance early.
No one would ever want to see her receive worse care due to money being taken from her, everyone is of the same mind, that she should receive the best. She has earned it.
They've sat down and gone through the numbers and realised thecare home fees were per week and not per month, all money is staying put. Currently her pension will cover half, once the house is sold she will have around 33k in savings to go towards her care.
No one would ever want to see her receive worse care due to money being taken from her, everyone is of the same mind, that she should receive the best. She has earned it.
They've sat down and gone through the numbers and realised thecare home fees were per week and not per month, all money is staying put. Currently her pension will cover half, once the house is sold she will have around 33k in savings to go towards her care.
Once her savings get down to around £23k ask for a reassessment as she will be eligible for a reduced contribution, and then another reassessment at £14500 as she will be eligible for full funding from the local authority so effectively she will not have to pay towards her care at that point.
gtsl said:
My Aunt is in her late 90s, she has lives on her own and unfortunately suffers from Alzheimer's, she has recently had a couple of falls at home and as a result the hospital have decided she is lacking capacity and will need to be in full time care.
Good, then it's free, but will be a battle to get them to cough up.gtsl said:
So, the reasoning behind the distribution of savings was that her pensions would cover the cost of the care home, leaving any savings and proceeds from house sale untouched. This is why they thought they could give G/kids inheritance early.
No one would ever want to see her receive worse care due to money being taken from her, everyone is of the same mind, that she should receive the best. She has earned it.
They've sat down and gone through the numbers and realised thecare home fees were per week and not per month, all money is staying put. Currently her pension will cover half, once the house is sold she will have around 33k in savings to go towards her care.
I started reading that and thought, wow, she must have a really good pension to cover care home fees!No one would ever want to see her receive worse care due to money being taken from her, everyone is of the same mind, that she should receive the best. She has earned it.
They've sat down and gone through the numbers and realised thecare home fees were per week and not per month, all money is staying put. Currently her pension will cover half, once the house is sold she will have around 33k in savings to go towards her care.
My mum has been in a care home suffering from dementia since January. She was self funded until August. Now social Services are paying her care. £950 a week and that is nothing special.
chadders74 said:
gtsl said:
My Aunt is in her late 90s, she has lives on her own and unfortunately suffers from Alzheimer's, she has recently had a couple of falls at home and as a result the hospital have decided she is lacking capacity and will need to be in full time care.
Good, then it's free, but will be a battle to get them to cough up.If theyre detained under Section 2 then theres nothing free after the 28 days assessment in hospital.
Edited by phumy on Thursday 19th September 13:07
Not Local Authority paying, but getting the NHS to fully fund instead.
What is NHS continuing healthcare?
Which is what we were going for before repeated sectioning.
What is NHS continuing healthcare?
Which is what we were going for before repeated sectioning.
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