Who's name should the cash be in?

Torry_Quine

atush wrote: »

That is of no practical help if the home you want is full for NHS transfers, or too expensive and needs a top up and ther isn't hte cash there.

If that's aimed at me I'm really not sure what you're trying to say?

Jake'sGran

"Atush.....

Jake's gran, you need to think things thru with your daughter and plan accordingly. Their might be some ill will, but is yo have all the paoerwork done in advance, and do leave him to inherit somehting (as opposed to having daughter control everything ) that might help. But the value of the hme caqn be protected from your mum
s care bills as it is deemed to belong to your dad as well. Other assets and monies will be different."

I am rather confused by your post in the penultimate sentence when you refer to "Your Dad". Do you mean my husband? I have made sure that he will never be hard up, quite the opposite in fact.

My daughter and I have regular discussions about my affairs but I am always conscious of the fact that she does not really like to talk about the time when I depart. It does make things easier though when we organise some things in advance.

One thing my OH and I have done is to split the house. Instead of it being held by Joint Tenants it is now Tenants in Common. This means he owns half and can live in it until he pops off. My daughter will own the other half and it cannot be sold for care home fees.

If you are unsure about any of the legalities with regard to wills and Power of Attorney you should look them up on the Internet.

ed123_2

..judging by the age your father was when he passed away (59 two years ago) I assume (maybe wrongly) your mother is in a similar age bracket ie around 60. As the government is increasing the retirement age I would suggest it is a tad to early to be thinking of nursing homes.

zzzLazyDaisy

Torry_Quine wrote: »

The better homes may charge more but that doesn't mean that residents who aren't self-funding get different care.

What it means is that residents who are not self-funding (and do not have family members who are willing to make up the difference between the LA contribution and the private fees) simply don't get to live in the more expensive care homes.

Torry_Quine

zzzLazyDaisy wrote: »

What it means is that residents who are not self-funding (and do not have family members who are willing to make up the difference between the LA contribution and the private fees) simply don't get to live in the more expensive care homes.

Thanks for that explanation but that isn't how it works in my experience. Maybe different here. My relative has now been in the same care home for over six years but was only fully self-funding for the first two. I have no idea what the local authority contribution is but doubt very much it is the £700 plus the self-funding residents pay. There has never been any question of making up the difference. wse were told on admission that no resident had ever been moved for funding issues but only for health needs.

zzzLazyDaisy

Assuming you are in England and not Scotland (where different rules apply) then all I can say is that your relative is very fortunate.

I have had personal experience of private care homes on three occasions over a 15 year period, with my MIL, my Mum, and now my father. The family has had to make up the fees on each occasion in order for my relative to live in the home that we had chosen for them because they had no funds of their own, and the LA payment was less than the care home fees.

Torry_Quine

zzzLazyDaisy wrote: »

Assuming you are in England and not Scotland (where different rules apply) then all I can say is that your relative is very fortunate.

I have had personal experience of private care homes on three occasions over a 15 year period, with my MIL, my Mum, and now my father. The family has had to make up the fees on each occasion in order for my relative to live in the home that we had chosen for them because they had no funds of their own, and the LA payment was less than the care home fees.

I am in Scotland but other than getting a small amount toward care costs wasn't aware of any other difference.

82much

ed123 wrote: »

..judging by the age your father was when he passed away (59 two years ago) I assume (maybe wrongly) your mother is in a similar age bracket ie around 60. As the government is increasing the retirement age I would suggest it is a tad to early to be thinking of nursing homes.

Thinking the same myself! I am also shocked that a woman of that age (young not old) cannot write a cheque or deal with anything to do with banks!!

The 60's changed women's lives - only women who are 80+ now would have been under the thumb!!

I live in a retirement area and have lots of customers in their 90's and even these women are very savvy with their money.

I think a lot of 'children' like to look after their parents money so they don't spend it. :rotfl:

jennifernil

I too am shocked that a woman in her early 60s is not "money savvy"

I worry about my OH, should I fall off my perch before him, as I have always looked after our money. I have been trying to involve him in the last few years, and have everything meticulously filed, but even so.....

Luckily we have a very savvy daughter, so I keep her up to date on what we (I) am doing!

Slinky

OP depending when in August your father passed away there would still be time to sort a Deed of Variation. You would need to get a solicitor to act very quickly (speed is not something some of them are blessed with). We did this with my fathers will recently, took a couple of weeks and could have been done quicker but for paperwork taking time to be passed amongst the people involved.

It might be worth speaking with a solicitor to see whether some sort of trust might be the right route for your mother and yourself.