house sale

Newly_retired

Friends whose father has just gone into sheltered housing are wondering what to do about his mortgage-free property. The father would like to sell it and split the capital three ways- himself, and each of his 2 grown up children. He is 61. Children are wanting to be sure not to do the wrong thing ( they have Power of Attorney) with regard to the long term future. If ever he should need to go into a care home with fees to pay, would they have any liability, given that they are going to benefit from the sale of his home? Can they spend the money how they like, or have they got to keep it locked up in case as recipients of his assets they are asked to pay? There is no immediate prospect of care home. He could continue for 20+ years as he is - who knows?
Any help towards some advice would be appreciated.

Errata

Age Concern has a factsheet which should help you to start to understand the ins and outs, and Age Concern branch Information Officers are always willing to give face to face information to help people understeand.
http://www.ageconcern.org.uk/AgeConcern/transfer-of-assets.asp

Newly_retired

That's a really helpful leaflet. Thank you.
Personally I would think it perfectly reasonable for the father to sell his house and share out the money as he has no real need for it, rather than keep it all ( house value approx £150 000 ).If he keeps £50 000 he will still be responsible for his own fees, if he does go into a home eventually, or at least until his capital is whittled down to the prescribed level under the current system.
At the same time his children also benefit.
Que sera, sera.