Signing over house, savings (etc.) to sons to stop the Government getting it

[Deleted User]

Good post Ian W. We have 3 eighty year olds living here amongst our group of houses and apartments and believe me, they are sprightlier than some of the young ones and they lead active lives. My dh and I certainly don`t look upon 70+ as the time when we become dependant on anyone. Ok we might have to make changes here and we may have to buy cleaning etc but hey that is what we saved for. We have enough savings put by for platinum standard residential care if needed and we rest assured that our 3 children would want the best for us and so our home would be sold if our savings ran out

Have you actually been in any state funded care home OP? No probably not

bendix

So let's call a spade a spade, shall we? What we have here is yet another example of modern Britain: a son/daughter doing whatever they can to get their hands on their parent's savings (saved for their retirement and old age, I hasten to add) and leaving the taxpayer to pick up the bill. Again.

These threads sicken me.

sleepless_saver

Ian_W wrote: »

Look, you need to explain a few things to your mum.

Firstly, if she goes into care the government doesn't seize her house and all her savings to pay for care. They make her pay for it but, given that life expectancy of those in residential care is quite low (months rather than years springs to mind?) the cost is unlikely to wipe out all her savings and the value of her house.

Secondly, as others have said you need to research the "bog standard" care she'll get if she relies on council funding. I would rather my mother spent every last penny of her savings and the entire value of her house getting a better standard and choice of care should that need ever arise. I would hope you would feel the same about your mum, if you don't you should be ashamed!

My MIL sadly passed away earlier this year and her greatest desire was not to go into care but to die at home which is fortunately how it went. However, shortly before she died we did have to look at respite care as my wife needed a break from several times daily visits - the standards of homes varied greatly. Guess which were the best - the more expensive ones, guess which the council would fund?

My MIL had carers visit on a daily basis for the last few months and that actually cost peanuts. Where her savings came in useful was in converting her home so she didn't need to go into residential care. I'm sure there are grants for stairlifts, disabled bathrooms and the like but we were able to get these things done quickly and to a high standard using her savings.

Bottom line is if your mum has savings for a rainy day she'll get a damn site better umbrella buying it herself than relying on "the government".

Excellent post, and one which should be quoted in its entirety every time this question comes up!

debbie42

It's a good point about life expectancy. My other grandma is now 101 and lives in sheltered accomodation, not a care home. She does have some help now with a cleaner and meals, but is still very independent.

It isn't inevitable that people move into care homes in their latter years by any means.

bendix

Ian_W wrote: »

Bottom line is if your mum has savings for a rainy day she'll get a damn site better umbrella buying it herself than relying on "the government".

Oh come on. The sons and daughters of such mums are hardly going to advocate that as a course of action, are they?

The reason why? Well, go figure . . .

SailorSam

Hasn't David Cameron said that he promises for us all to have any amount of care in our old age for a one off payment of £8k.

debbie42

bendix wrote: »

Oh come on. The sons and daughters of such mums are hardly going to advocate that as a course of action, are they?

I thought the poster, Ian W, did exactly that. I hope I would do the same. My Mum and Dad should use their money for their benefit. Whether that be saving for a rainy day, or future care (if needed), or blowing it all on a world cruise. It is their money, not mine.

bendix

debbie42 wrote: »

I thought the poster, Ian W, did exactly that. I hope I would do the same. My Mum and Dad should use their money for their benefit. Whether that be saving for a rainy day, or future care (if needed), or blowing it all on a world cruise. It is their money, not mine.

All credit to Ian W. I was referring instead to the OP and their ilk who seem to pop up with the same question with monotonous regularity.

Wannabedebtfree

Before my mum & dad retired, I told them that as they had looked after me for 16 years of my life, I would look after them.

They sold their house, have done what they want with their money and I pay all the bills etc.

Life can be simple at times, and I enjoy them living with me. It's good to have some wisdom in the house at times!

margaretclare

debbie42 wrote: »

It's a good point about life expectancy. My other grandma is now 101 and lives in sheltered accommodation, not a care home. She does have some help now with a cleaner and meals, but is still very independent.

It isn't inevitable that people move into care homes in their latter years by any means.

Absolutely.

IanW makes the point that if people have 'rainy day savings' they get a better deal. Well, we needed our roof replaced a few years ago. We were told there were all kinds of grants available, but the hoops you had to jump through to get any such grant were unbelievable and no certainty that you actually got one in the end. £3,500 or thereabouts was money well spent. Same with last year, when DH was in hospital recovering from septicaemia which had nearly killed him, and was faced with the prospect of either a stiff leg or an amputation. I decided we needed a new shower cubicle with a lower step-in. I asked for help and advice from the rehab/OT/physio people. They looked me straight in the face and told me that 'a daily strip-wash, for the rest of his life, was all that was necessary'. Again, £2,500 to update the bathroom, money well spent.

All of these things have, as someone else put it, made it possible for us to stay in our own home and not to have to consider residential care - perish the thought.

I agree with bendix, it is amazing how often this type of question comes up. There is obviously a lot of folklore out there about 'the Government takes your house and all your savings'. And a lot of people who are desperate for what they see as 'their inheritance'. It is only in fairly recent times that the idea of an inheritance has become so widespread. Mostly, our antecedents left just enough to bury them and not much more. Is all this down to the crazy rise in house values that we've seen only in the last decade?