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Putting title deeds in child's name
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Obviously you will lose your status as a FTB if you do this, so you won't be able to benefit from the tax change yourself.0
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How does this square with deprivation of capital/notional capital rules regarding the mother's future access to means tested benefits, such as a care home in the future?
How far ahead can someone gift away a substantial portion of their capital before the relevant state authorities will not include it when calculating benefit entitlements in the future?0 -
No limitation......0
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How does this square with deprivation of capital/notional capital rules regarding the mother's future access to means tested benefits, such as a care home in the future?
How far ahead can someone gift away a substantial portion of their capital before the relevant state authorities will not include it when calculating benefit entitlements in the future?
I would think its interpretation of the motive. Certainly they would look back a few years, whether they would look further....
Many parents buy student houses when their offspring are at university. A few years later the student house might be sold and the money used to part fund the first proper house purchase of the adult child. If 20 years later the parent needed care (and the other parent was still alive, so living in the family home), could that be construed as deprivation of assets?I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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