Grandfather Gifting Money / Nursing Home

nv123

There is a legal way to protect assets from care home fees.

NAR

What an inspirational FIRST POST! :eek:

pollypenny

tonitowle wrote: »

obviously my grandfather has very strong views of what he whats his money to be used for

So do I!

I pay my taxes to help those who need help!

If he can afford to pay, he pays. Don't expect others to pay! Simples!

BTW: paying for himself will probably give him a better/wider choice of homes.

sleepless_saver

Mojisola wrote: »

Your grandfather will have his private pension and old age pension to put towards his care home fees. He should also be entitled to Attendance Allowance. When you add all that up, he may hardly need to touch his savings.

I don't know where the OP's grandfather is, but a self funder in Scotland wouldn't get Attendance Allowance once he moved into residential care. Though if he was assessed by the local authority as needing residential care up to £227 a week would be paid to the home if he needed both personal and nursing care.

bryanb

Errata wrote: »

just like I also wish young people today could buy a house for the same price that the retired generation paid for theirs. I'm afraid both those wishes are cloud cuckoo land.

Do you also wish your salary reduced to the level the retired generation were on at the time?

weanie

Errata
The point I had made earlier was with regard to funding care from an individual's house sale compared to others who [as they have no house to sell and no funds in the bank] are funded by the local authority. I do not wish to return to the dark days of the workhouse but in my late mother's experience there was a direct parallel with another elderly lady neighbour from a rented property. Mum's house was sold to fund her fees and her neighbour contributed only her pension. They were in the same care home.
For a number of years, this lady had lived in a rented house and had historically lived a more extravagent life in comparison with my mother and father's efforts years ago when they were all earning. This couple had sold their home some years ago, given the proceeds to family and downsized to a rented home.
I do not begrudge this lady her financial assistance in later life but it smarts a little when I recall my parent's eagerness to be home owners and the sacrifices they made to do so.

Oldernotwiser

I can't understand the thinking that someone who's bought a house on a mortgage is in some way more frugal and more hard working than someone who has had to rent all their life. The person paying rent will have spent a far larger proportion of their income on housing and may well still be paying this into retirement.

weanie

Oldernotwiser
Perhaps my point is not clear.
I do not know the the precise overall comparison of mortgage v rent over a lifetime - all I know is that my parents struggled to pay off theirs and stayed in their house until my father's death and my mother's severe dementia took over.
The person I am comparing them with also purchased a house but sold up some time prior to late old age and used the money raised. This meant that when the same fees were required for the same Care home, the lady who had enjoyed the disposal of funds raised from her house, had her care home fees paid. My mother however, was required to use her money from the sale of her house to fund her care.
I was simply saying that in such cases, it seems one person has enjoyed the benefit of the sale more than the other.

licky_face

tonitowle wrote: »

She doesnt want to do anything illegal but obviously my grandfather has very strong views of what he whats his money to be used for

And also very strong views that taxpayers money should be used to provide him things he can afford himself.

savvyme_4

weanie wrote: »

I think you make valid points Errata.
However, I do believe that the system of funding favours a particular lifestyle or life choice.
My parents went without what they regarded as luxuries in order to pay for their own home. Certain of their friends did not have mortgages to pay and chose rented accomodation.
My parents' family home was sold to fund my mother's care when her dementia became severe and she needed residential accomodation for the years before her recent death.
If my parents were able to live their lives again, I wonder if they might have chosen the fitted carpets, televisions, nights out and foreign holidays to spend their income on rather than frugal living and servicing a mortgage. Others of their age and income made this choice and then had their care funded as they did not have the opportunity of a house to sell to pay for their care.

I agree ... my mum and dad, now 86, saved all their lives and paid off their mortgage, went without everything, never had a car, central heating or luxuries. Now my dad has just gone into a care home which will cost roughly £22,000 per year (nursing care he will maybe need in the future ...£52,000 per year). They are self-funding as they have savings. If my mum goes in as well, the bungalow will probably have to be sold, so all their assets will go on care. My husband's mum and dad however, who are also in their eighties, spanked all their money but are now receiving all the benefits and no doubt if they have to go into care, it will be paid for. Not that I begrudge them this as we all get on well, but I kinda feel sorry for my mum and dad as that generation always thought it was better to save.... It's really not fair I think!!