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

carpedieme

I agree with tippytoes, there is absolutely no incentive to save for old age when lifelong !!!!!!!!!!s get looked after for life via benefits et etc

Errata

carpedieme wrote: »

I agree with tippytoes, there is absolutely no incentive to save for old age when lifelong !!!!!!!!!!s get looked after for life via benefits et etc

That sounds like you are not prepared to take responsibility for your own life and wellbeing, which puts you in the same class as the lifelong !!!!!!!!!s.

Tippytoes

carpedieme wrote: »

I agree with tippytoes, there is absolutely no incentive to save for old age when lifelong !!!!!!!!!!s get looked after for life via benefits et etc

Carpedieme, thanks for the support. You sound like you live in the real world! My final contribution to this topic is:

In my field of work, I see both ends of the spectrum on a daily basis. The spongers who have benefits handed out like confetti, and the older folk who are penalised for having worked, saved, had only the children they could afford to support, never indulged in illegal substances, never been on the wrong side of the law etc etc.... One of the reasons why the spongers get money dished out hand over fist, is because they know how to milk the system. The older, honourable folk, are either too proud or ignorant of THEIR rights. It's not a question of being irresponsible. It's a case of seeking parity. It's unfortunate that to be in with a chance, you too, have to play the system. Those of you who are happy to see your tax dollar supporting the sub-class, carry on. I believe older folk have EARNED their rights - and I will make sure I get mine.

margaretclare

There is no arguing with a closed mind. However, I am very glad that DH and I have savings in our mid-70s. It means that, instead of sitting at home over Christmas and wondering whether to eat or heat (which would be the case if we were living on state benefits) we're going on a 4-night Christmas break to a country house hotel in the Midlands. We'll be able to do our own thing, go to a carol service at Coventry Cathedral, spend time in the heated indoor pool in the hotel's leisure centre.

None of the options we have now would be available to us if we hadn't got savings.

Errata

Those of you who are happy to see your tax dollar supporting the sub-class, carry on.

I don't pay my taxes in dollars (are you American ?) however, as you clearly intend to sponge off the state yourself you clearly won't have 'earned' any rights.

margaretclare

carpedieme wrote: »

I agree with tippytoes, there is absolutely no incentive to save for old age when lifelong !!!!!!!!!!s get looked after for life via benefits et etc

I totally disagree.

If you want to live out your days in peace, comfort and with some choice, then I see no alternative to having some savings in old age.

I cannot spend my life enviously and erroneously looking over my shoulder at 'lifelong whatsits get looked after for life via benefits'. I would not want to live out the remaining years of my life on means-tested benefits, having to ask for every penny-piece.

applehead_3

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.

Comments like this, and the people who make them sicken me.

Cranny44

Hi There, this just happens to be what i do for a living... tell the old folks what the care is going to cost in the community and care homes and if the LA wants a charge on the property if it is not exempt under the CRAG guidelines.

If the property has been handed over to avoid paying for care this counts as deprevation - there is no rule as to how far the LA can go back if they wish to prove their case, many quote 7 years but that is for the inheritence tax.

It is always up to the LA to prove that the property was signed over to avoid payment of care home fees. We will always ask if the property has been transferred and how long ago it was done, our legal section often do land searches so lying wont help, you would be found out and be asked to fund the full cost of your care, the LAs have the power to place an HASASSA charge on the property which is similar to a legal charge so they always get their money in the end..

Depending on the cost of your care and your income it is getting more possible for many to fund their places through state pensions, occupational pensions and high rate attendance allowance without having to put the property into the pot, you could always rent out the property if this would help, although if you rent it out but are still short and need LA funding then the rental income would be counted as part of your assessment.

The CAB leaflets are excellent in format and plain english, you should always seek legal advice preferably from a specialised solicitor as some in my area get it very wrong as they dont know the rules and seem to make it up.

Care homes differer from area to area and luckily in ours we pay a base rate regardless of the trimings and then the families are requested to pay a third party top up if the home want more money than the LA are contacted to pay the NHS then pay the nursing element if the client is in need of nursing care.

Also on a last note.. if a client is fully health funded then the property savings income doesnt come into it at all.

Long post sorry :j

Fire_Fox

Can I suggest that the OP introduce her mother to some 50+ fitness classes, chair-based exercise, a walking for health group or Tai Chi class? A large proportion of the physical decline that we call old age is simply a case of 'use it or lose it'. I read of one study showing that Tai Chi is associated with a 50% reduction in falls (falls = fractured hip = never walk unaided again), another study where twelve weeks of very basic strength training allowed some elderly folks to discard their walking aids ... :T

If you think this advice only relates to the older generation think again. A large proportion of over 50s cannot rise out of an armchair unaided - that is without using their arms to push. If you struggle to lift your own bodyweight using the strength in both legs, how long before you cannot lift your own bodyweight using the strength in one leg at a time (climbing the stairs)? How long after that before you cannot lift the weight of your own leg to propel yourself forwards (walking)?

pelirocco

carpedieme wrote: »

I agree with tippytoes, there is absolutely no incentive to save for old age when lifelong !!!!!!!!!!s get looked after for life via benefits et etc

So do you want to spend the last years of your life just having the basics , or would you rather have comfortable retirement with the freedom money gives you?There is plenty of incentive tosave for old age ,just as there is plenty of incentive to save throughout your life ..............why settle for second best when you get old?