Putting home into family trust to avoid nursing home fees

Doc_N

missbiggles1 wrote: »

It's quite a good thing for elderly people needing to fund their own care home charges - rather than giving it to their children and expecting strangers to keep them in their dotage.

Certainly - I didn't say give it all away!

moneyistooshorttomention

Quite a leap from my "I understand why everyone would have the different viewpoints they have on this - though mine is different to some of them" to some expressed here of "You're wrong/wrong/wrong and selfish to boot" from those with a different viewpoint...:cool:

Now what was that comment by that famous philosopher of yesteryear of not agreeing with someone else's viewpoint, but defending their right to have it (ie rather than namecalling them for having it).

Think about it.:)

missbiggles1

Torry_Quine wrote: »

Not all ordinary working families though, certainly not mine!

.

But you were either not born then or just a baby, whereas I was in my mid to late teens. All you can really know is that your parents weren't inclined to spend their money that way, whereas I had some idea of what the costs were, what was involved in saving for the holiday and what sacrifices might have been needed to be paid.

Torry_Quine

missbiggles1 wrote: »

But you were either not born then or just a baby, whereas I was in my mid to late teens. All you can really know is that your parents weren't inclined to spend their money that way, whereas I had some idea of what the costs were, what was involved in saving for the holiday and what sacrifices might have been needed to be paid.

I know that my parents didn't have the money as I know how they lived, very simply and there was not spare money for luxuries such as holidays even in the 70s when I was well aware of the finances in the home.

hostertlady

missbiggles1 wrote: »

It's quite a good thing for elderly people needing to fund their own care home charges - rather than giving it to their children and expecting strangers to keep them in their dotage.

my mum( who is in a residential care home) tells me every time I go and see her that SHE is paying for this **it hole, from HER hard earned money, hardly mother! .( she was left some money when a relative died..)
my mum actually thinks that we ( her children) should be paying for her care as we are the ones that allegedly 'dumped' her there ( her words)
x

missbiggles1

moneyistooshorttomention wrote: »

Quite a leap from my "I understand why everyone would have the different viewpoints they have on this - though mine is different to some of them" to some expressed here of "You're wrong/wrong/wrong and selfish to boot" from those with a different viewpoint...:cool:

Now what was that comment by that famous philosopher of yesteryear of not agreeing with someone else's viewpoint, but defending their right to have it (ie rather than namecalling them for having it).

Think about it.:)

Nobody's tried to stop you expressing your opinion but it doesn't mean that anybody has to agree with you.

Savvy_Sue

hostertlady wrote: »

my mum( who is in a residential care home) tells me every time I go and see her that SHE is paying for this **it hole, from HER hard earned money, hardly mother! .( she was left some money when a relative died..)
my mum actually thinks that we ( her children) should be paying for her care as we are the ones that allegedly 'dumped' her there ( her words)
x

I do hope you are able to smile sweetly and talk about the weather ...

Pollycat

Doc_N wrote: »

There is a simple answer if you can afford it - hand over some cash to your children to help them onto the housing ladder. Don't waste it all on expensive holidays and cruises - think of the good you can do with it for your children and grandchildren. There's a lot more pleasure to be had from that than from a few transitory holidays.

My money isn't wasted on foreign holidays, I enoy them enormously just as I do my days out shopping with my retired friends.

My money - I'll spend it how I like.

However, that is from the perspective of someone who had to work and save for everything I have.
As the eldest, my parents weren't in the position to give me a hand onto the property ladder.

Give your money away to children & grandchildren so you then may have to go into the cheapest care home the Council will fund because you can't afford to pay yourself?
I don't think so.

And if you don't need to go into a care home (I understand that the odds are that you won't), you will still have the money to be able to give it to your children & grandchildren.

Doc_N

Pollycat wrote: »

My money isn't wasted on foreign holidays, I enoy them enormously just as I do my days out shopping with my retired friends.

My money - I'll spend it how I like.

However, that is from the perspective of someone who had to work and save for everything I have.
As the eldest, my parents weren't in the position to give me a hand onto the property ladder.

Give your money away to children & grandchildren so you then may have to go into the cheapest care home the Council will fund because you can't afford to pay yourself?
I don't think so.

And if you don't need to go into a care home (I understand that the odds are that you won't), you will still have the money to be able to give it to your children & grandchildren.

Your choice, of course. My view, though, is that it's largely rising house prices that's funded our present assets, and it's that same rise in house prices that's preventing young people from buying a house.

I can offer real, practical help now - while they actually need it. After I've gone it'll be too late. I didn't have help from my parents either, but that doesn't mean I have to take the same line with my children.

Pollycat

Your choice of course.