Joint purchase with parents

mike1976_2

Hi all,

I currently have a property. It's value is £125k and the outstanding mortguage is c.£108k

My parents have a property worth c.£170k, which they own outright.

My mum has the onset of Dementia (short term memory loss problems etc).

What would happen if we bought a property together and my mother needed to go into care?

What would happen in terms of inheritence? At the moment I am the sole beneficiary of their property?

Thanks
Mike

UK007BullDog

I think you would need to see a solicitor.

If she has onsetting dementia you and your dad might have problems later on.

Your dad might need to get power of attorney, etc.

And the sooner you do it the better.

mike1976_2

Thanks for the reply.

Power of Attorney is in the will for all of us. Each of my parents would be first, then it would be me if one of them passed away.