Inhertitance - Care homes get it!!!

Pupnik

CLAPTON wrote: »

indeed so

do you also fondly remember him saying he was very very keen to pay more tax during the time he was bringing up the children and paying the mortgage so we can all have an increased inheritance from our parents

No of course not but he always paid his taxes and paid for everything himself without complaining, it isn't his fault that he had some strokes, took a bad fall and has Alzheimer's disease- what was the point in him working so hard, fighting in WW2, paying all of his taxes and is not entitled to the same level of financial care that other people in his home get.

The fixation on raised taxes in this thread is quite frankly ridiculous when you consider all the other places taxes get spent and all the wealthy people dodging paying them- I am certainly never going to bedrudge my taxes paying for the care of sick elderly people but there are certainly plenty of other places I have no choice about funding through taxation.

[Deleted User]

Pupnik wrote: »

No of course not but he always paid his taxes and paid for everything himself without complaining, .

that is the way he will have been brought up, that is the way it was for people of his generation from the same culture and background.

Life is not fair, it is not fair that some people get more than others but that is the way it is. You have to move on or you start to feel the knife twisting in your heart. Let it go from you and be glad that you had your grandfather for such a long time

Errata

Pupnik wrote: »

No of course not but he always paid his taxes and paid for everything himself without complaining, it isn't his fault that he had some strokes, took a bad fall and has Alzheimer's disease- what was the point in him working so hard, fighting in WW2, paying all of his taxes and is not entitled to the same level of financial care that other people in his home get.

The fixation on raised taxes in this thread is quite frankly ridiculous when you consider all the other places taxes get spent and all the wealthy people dodging paying them- I am certainly never going to bedrudge my taxes paying for the care of sick elderly people but there are certainly plenty of other places I have no choice about funding through taxation.

Bluntly - he could have given his money to his children and grandchildren years ago. He could have accepted that his house was worth what he paid for it, and anything above that was due to luck and not his hard work as he'd have housing costs whether he was buying or renting.

AdamS

I am starting to wonder how many posters on this board actually have any capital over £23,000 or if they do, do they have children and grandchildren that they want the best possible future for.

All these comments about the public purse, paying more tax etc. I pay lots of tax and NI. The government obviously has plenty enough money if it can increase foreign aid budget 37% to £4 Billion! Yes, £4,000,000,000

As regards comments regarding difference between private care and local authority care, if thats implying that local authority care is poor, thats a different issue.

How can we justify some people getting free care and others not???
You havent got a job, ok heres some benefits.
You havent got a house, heres a council a house and cheap rent.
You havent saved for your retirement, heres a pension.
You havent saved for care home, heres free care.
FREE FREE FREE all the way!!!

(btw i dont begrude anyone taking the above, its there to be taken, have it).

Some people, who work there butts off for 40 years+, pay tens of thousands in taxes, NI, mortgage interest and pension, at least want to have in here minds that at least some of whats left is going to there FAMILY!

I love my family in life and I will love them in the thereafter! Money may not bring happiness, but it can bring them easing of life pressures and some fun, holidays and enjoyment. Might even help put a roof over there heads.

jamesd

Pupnik wrote: »

I think it is a bit of a shame- my grandfather (now 90) was fit as a fiddle until 2 years ago when he suffered a stroke. Prior to that he had been very proud to have come from his small farming village in Poland, joined the British army in WW2 and met a British woman and eventually been able to buy his own semi to raise his family in which he lived in for many decades. He always liked to tell us how much he was saving up so that when he died each grandchild would get £10,000 and would always instruct us to go to the building society to get it out before his body was even cold because he did not want the authorities to get it (very typical of him!)

Yes, it's sad. But it is worth remembering that the primary purpose of accumulating savings is to care for yourself. He did have the option at any time of giving the money away to the children in an informal safekeeping arrangement if he'd wished to do that.

jamesd

AdamS, someones unwillingness to provide for their own care is not a sufficient reason to pass on the burden to the rest of us, beyond the bare minimum of required care that we choose to provide as a caring society.

There's a simple and completely effective solution to the inheritance problem. Give the assets away before there's any sign that you need the care. If you're truly interested in giving them away and not looking after yourself that gets people the chance to benefit while you can still see the difference that it makes in their lives and can enjoy that.

AdamS

I found another post that was more informative, plus combined with a few things Ive learnt.

1)Private care homes are a lot better than local authority care homes (shame on them!)

2)Use of trust funds can possibly be used to protect wealth (money/property). I assume you'd end up in a rotten local authority care home though.

3)Its less likely than i thought that people end up in a care home.

4)Care annuity's exist and no doubt other options. Expensive.

Conclusion:
Accept the best option is paying for your own private care home. So save up for that scenerio and your kids/gran kids are in with a chance of an inheritance, if that is what you so desire.
If not, spend the rest and ENJOY!

jamesd

Right on those. The annuities are a good deal for long term protection but if the children are wiling and able then on average they are likely to be better off paying themselves and getting a larger inheritance. The catch comes for those who live longer than average, so it's not free money but a risk-based decision. A mixture of existing income, annuity and children paying can be the best combination.

seven-day-weekend

AdamS wrote: »

Maybe its a good think my reply was accidentally lost by laptop misclick! arrggggh

If the concensus is blow your money have a good time you'll get the free care if you need it, then fine.

However, I cant believe the number of people quite willing to see family money go to care homes, which millions of others get for free and we could all get for free if we all rented, lived off pensions and enjoyed every other spare penny to the very last!

I dont think 1 - 10 end up in a care home, Ive had 4 gran parents in care homes out of 6.

If we get medically ill and end up in hospital we dont have to sell our houses, why should we do so for care in old age when we are too ill to look after ourselves?

Certainly why should we pay when millions get for free (for whatever reason).
........
.

Because many old people in care homes are not 'ill'. They need help with washing, dressing, toiletting etc because they are frail, but this is not the same as being ill.

As I said earlier, if they are ill and need actual medical nursing care, then this is provided free of charge by the NHS (or should be).

le_loup

So Adam, I guess you've allready given your money away to your family.
Or are you ALL hot air?