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

Tippytoes

A friend works in a BUPA residential care home. She says that those who are paying $$$££1000s, live alongside those who are 100% funded by the state - and, most people don't know who is who. I suppose it's a bit like those who skint themselves to pay mortgages to live in nice houses on developments that, by law, have to have a certain % of "social housing". The social houses are often occupied by those who have no intention of working and are life-time serial benefit claimants.

I do believe our old folk should be properly cared for BUT I do think there is absolutely no incentive to pay your way in life when there is a very good chance that you can squander away and ultimately be no worse off than those who have worked and saved hard.

Errata

Not all people who squander every penny will need any kind of care in their old age, but their standard of life won't be comparable to those who have been prudent..

Tippytoes

I agree there are those who will not need care. All I'm saying is: why bother saving for old age? To each their own.....I intend blowing my money and taking a chance that I may end up in a grotty place...or possibly a 5* Bupa home.

Errata

Take your chance by all means. You can look forward to living well below the poverty line as one of those 4 in 5 older people who never need any care.

margaretclare

It's not always as clear-cut as Tippytoes says. There may be things you could use savings for that aren't as extreme as 'going into care'. I gave a couple of examples earlier today, of things we'd been able to use savings for which enhanced our comfort, convenience and standard of living.

A year ago I got a new shower-cubicle with lower step-in, and that has been brilliant. Not long ago I heard of someone who needed a grab-rail to enable him to have a bath. This man, too, had met up with the rehab people telling him that he needn't have a bath, he only needed a daily strip-wash. I wondered if this is 2009 or 1909...anyway, I ventured the opinion that bathroom grab-rails are fairly inexpensive and can be fitted by anyone with an average knowledge of DIY and some power tools. I was told very firmly that this person could not afford to have these basic aids installed himself. As Errata says, this man's standard of life is not comparable to ours.

wiseways

Hello organdonor,

You should also consider how your or your siblings circumstances may change, we never know what is around the corner. Someone I know did this with their mother and then found themselves pregnant unexpectedly, she had to give up her job and claim benefits for a while. She told them that her mothers house was in her name (effictively she owned it, but only in the event of her mothers death could she live in it or sell it) not only would they not give her benefits but they would not help her with housing either. As she had, had to leave her job she was unable to pay the rent where she lived and ended up in a very sorry state. So, just a word of caution. Good luck.

Tippytoes

I guess I am one of the those fools and would rather be on the bones of my backside than let the government get their mitts on my money if, and when I find myself in need of care.

margaretclare

Tippytoes wrote: »

I guess I am one of the those fools and would rather be on the bones of my backside than let the government get their mitts on my money if, and when I find myself in need of care.

So you wouldn't mind being in the same position as that man I described in post #37, who couldn't even afford to get himself a grab-rail so that he could have a bath.

Tippytoes

That's where (for the first time in my life) I'd throw myself at the mercy of the system which seems to help plenty of other "deserving" cases. My decision. End of.

margaretclare

Tippytoes wrote: »

That's where (for the first time in my life) I'd throw myself at the mercy of the system which seems to help plenty of other "deserving" cases. My decision. End of.

But my point is, that poor man was NOT getting the help he needed! Not even something as simple as a grab-rail in his bathroom. Rehab people copped out by saying he 'did not need a bath or a shower, a daily strip-wash was all that is necessary'. Very easy to say, and requires no effort or expenditure! But the man did not see it that way. So, throwing yourself at the mercy of 'the system' might not get you anywhere and you would just be cutting off your nose to spite your face.