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Avoiding long term care costs?
rico2008
Posts: 3 Newbie
I know to avoid long term care costs is illegal, but I was wondering if anyone knew the best way around not losing the house after my parents.
We've spoken to solicitors but they suggest a trust that will protect the 1st half of the house but if the 2nd parent goes into a home they will take their half with them and I will still lose half of the house?
There was also suggestions of putting the house in 3 ways... but will the house still get taken off me as I wouldn't of been on the deeds that long?
Any advice much appreciated.
We've spoken to solicitors but they suggest a trust that will protect the 1st half of the house but if the 2nd parent goes into a home they will take their half with them and I will still lose half of the house?
There was also suggestions of putting the house in 3 ways... but will the house still get taken off me as I wouldn't of been on the deeds that long?
Any advice much appreciated.
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Comments
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I think they would have to sign it over to you, then after 7 years it cant be considered in any care costs or as a gift. I'm not 100% sure of this, so I'm sure someone else will be along shortly.0
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It's not just illegal, it's also Immoral.
My home is my pension.
My home is my pension.
My home is my pension.
My home is my pension.
My home is my pension.
My home is my pension.
Oh no wait! I've changed my mind! I want to keep my home and force the taxpayer to provide for me and pay me a pension and heating bills and council tax and free healthcare despite the fact that I hold an asset worth hundreds of thousands of pounds and most income tax payers can barely afford the rent each month....Bankruptcy isn't the worst that can happen to you. The worst that can happen is your forced to live the rest of your life in abject poverty trying to repay the debts.0 -
Do you live in the house?0
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yes i do i live in the house, not sure if i'll be moving for a short period of time due to work in the future but yes i do.
(squat now, if you found my question offensive, i'd rather u didnt reply opposed to spreading negativity...) excuse me for fear of losing my house and becoming homeless, something my parents have worked so hard for over the years, something they can leave me with after their day.0 -
Shotgun, spade, bit of quiet woodland.
Tell the grandkids they've gone on a long holiday.
Job done."Mrs. Pench, you've won the car contest, would you like a triumph spitfire or 3000 in cash?" He smiled.
Mrs. Pench took the money. "What will you do with it all? Not that it's any of my business," he giggled.
"I think I'll become an alcoholic," said Betty.0 -
The way to stop the house being stolen by the government is caring for your parents when they need the care and preventing them going into hospital. I don't know how you do it if there's a mortgage to be paid on the house still - but there are carers benefits to support people who look after relatives.
In Spain they apparently have virtually no old people homes. No because they don't get old but because they look after their elderly at home.0 -
I agree - PoppySarah but as a full time teacher, it's worrying whether it's possible to give up work to care full time as an only child. Getting on the property ladder too is difficult at the moment.0
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