Deprivation of assets
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Personally I'd be happy that my parents were in a safe comfortable environment in their old age , my mum has sold her property and is self funding sheltered accommodation near me
You do realise the vast majority of people don't need care at all
Can I just point something out. My Mum is insisting on this. I don't personally think its a great idea, given the research I've done.
You're making out I'm the one forcing them to do it to get my hands on their house. I couldn't care less about that. In fact, my parents were a bit miffed when I suggested it wasn't worth the hassle.0 -
Sorry , we have had similar posts in the past where the OP didn't like the replies
Apologies if that's not trueI'm a Forum Ambassador and I support the Forum Team on the Shopping and Freebies, Phones and TV and Over 50s boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing . All views are my own and not the official line of MoneySavingExpert.0 -
Sorry , we have had similar posts in the past where the OP didn't like the replies
Apologies if that's not true
No its fine. I 'm sure it does happen. My sibling and I were very hesitant about it and my parents got a bit annoyed with us. I'm not convinced their solicitor is giving them good advice and want to be able to show them the facts.
I have an appointment to get some legal advice on this on Thursday.0 -
There's trust's that can be used but they need expert setting up and can still fall foul of deprivationI'm a Forum Ambassador and I support the Forum Team on the Shopping and Freebies, Phones and TV and Over 50s boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing . All views are my own and not the official line of MoneySavingExpert.0
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Hutch100uk wrote: »Can I just point something out. My Mum is insisting on this. I don't personally think its a great idea, given the research I've done.
If you don't sign the paperwork, it can't happen.
Would it help if you pointed out to her the problems that this may cause you and your sibling - CGT, no access to means tested benefits if you became ill or unemployed, stamp duty, divorce financial settlements, etc.0 -
If you don't sign the paperwork, it can't happen.
Would it help if you pointed out to her the problems that this may cause you and your sibling - CGT, no access to means tested benefits if you became ill or unemployed, stamp duty, divorce financial settlements, etc.
Yes we've already pointed these things out. They are aware of the stamp duty and divorce settlements but not necessarily the other things. I will go through all this with my solicitor and hopefully he will be able to detail it all to show its not worth doing.
I don't want to refuse if they are insistent and fall out about it, but I'm genuinely not keen on the idea. Don't think my sibling is either. Hopefully they will see sense.0 -
Tell them basically that they could land you all with a mass of tax and care debts to deal with afterwardsI'm a Forum Ambassador and I support the Forum Team on the Shopping and Freebies, Phones and TV and Over 50s boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing . All views are my own and not the official line of MoneySavingExpert.0
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......... and they will have to pay you rent.
......... and you will have to pay tax on it.
......... and their motives are a disgrace.0 -
Hutch100uk wrote: »My sibling and I were very hesitant about it and my parents got a bit annoyed with us.
Don't think I'm having a dig at state funded care homes, I'm not. They do a great job, but their resources are much more limited and you get what you pay for (or don't). With your own money you get to pick and choose where you go, with the state's money it is Hobson's choice.
*As an aside, this can be a useful exercise to give family an idea of where they would be most comfortable well ahead of the time where it might be needed.
SPCome on people, it's not difficult: lose means to be unable to find, loose means not being fixed in place. So if you have a hole in your pocket you might lose your loose change.0
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