How can I sign a house over to my son?

Errata

There are indeed many ways of looking at things. The government will be looking at many ways of how elderly care is delivered. One way may be that people are enabled to live in their homes for very much longer, and will only need residential care for a few short months when they're literally on their last legs

JJ7

I don't know anyone who struggled to buy their first home because they wanted to leave it to their children - I certainly didn't!

Did you buy it with the idea of paying for your care home if so required? I don't know that I would have bothered had I forseen this. For us ordinary people whose families had onlly lived in rented or council homes it was a HUGE step to buy your own home and yes I truly did think that it would be for my children - honestly

Oldernotwiser

JJ7 wrote: »

Did you buy it with the idea of paying for your care home if so required? I don't know that I would have bothered had I forseen this. For us ordinary people whose families had onlly lived in rented or council homes it was a HUGE step to buy your own home and yes I truly did think that it would be for my children - honestly

Fair enough.

I was also the first person in my family to buy a property and it was indeed a very big deal.

I bought it because I was fed up with moving every 6 months when a tenancy ended, because I wanted to have pets which weren't normally allowed when renting and because I wanted to be able to decorate and arrange somewhere to my own taste.

Any thoughts of leaving something to my children never crossed my mind and I have every hope that I'll die with precious little to pass on.

dzug1

savvyme wrote: »

You have answered your own question. You will be a pensioner one day!! Who will pay for you??

Also how do you define "rich".

I'm already a pensioner thankyou.

As to 'rich' - well by world standards anyone who has £20K in savings is rich beyond the wildest dreams of avarice. Certainly I'd say that anyone who is worried about Inheritance Tax is rich.

mamabuddah

dzug1 wrote: »

OK to put a bit of a slant on it: The 'State' equals you and me. Why should I pay taxes to subsidise pensioners who are by any reasonable definition 'rich' just so they can pass on assets to their ne'er do well kids and grandsprogs. The fact that they worked hard to become 'rich' is irrelevant.

well why not...you're obviously happy funding economic migrants asylum seekers and 3rd generation benefit scroungers...why not help people who saved all their lives and paid taxes (just like you) at least they put something back over their lifetime working.

Oldernotwiser

mamabuddah wrote: »

well why not...you're obviously happy funding economic migrants asylum seekers and 3rd generation benefit scroungers...why not help people who saved all their lives and paid taxes (just like you) at least they put something back over their lifetime working.

What a warped view of life you seem to have. Why would anyone want to give money to those who have more than they do?

seven-day-weekend

jimjog wrote: »

My mum and dad bought their council house over 3 years ago and would like to transfer ownership over to me, they will continue to live in the house until they both pass on. However, what we are worried about is my mum and dad losing their benefits they are both on disability living allowance and they also get council tax benefit. If the house is signed over to me will that mean that I will have to then pay fulll council tax and that they will lose their DLA? They are both in their 70's and are just wanting to do right by me but I don't want them to lose out in any way and I just want them to enjoy the erst of their days in the home that they have loved for over 30 years. Can anyone advise me on this and any other in's and out's of this that I probably don't know about? Many thanks

They won't lose the DLA. They may lose the CT Benefit if giving the house away to you is deemed to generate capital for them (whether or not any money actually changed hands).

dzug1

mamabuddah wrote: »

well why not...you're obviously happy funding economic migrants asylum seekers and 3rd generation benefit scroungers...why not help people who saved all their lives and paid taxes (just like you) at least they put something back over their lifetime working.

I'm in favour of helping people who need it

Would you pay for Fred the Shred's care home should he come to need it? Full marks for consistency if you would. Otherwise where do you draw the line - and who draws the line?

And what extra taxes are you willing to pay NOW to provide funding for whatever falls the 'right' side of your line.


I'm not saying the line is currently in the right place - but there has to be one.

And I thought economic migrants were net contributors to the economy?

savvyme_4

Oldernotwiser wrote: »

I'm sorry you don't have the time or inclination to actually read my post but I wonder why you think it should be moved

I have read your post... thoroughly ... and I could answer it on this thread, but this is not a discussion thread and should be moved to a different thread if you wish to discuss it. The person originally posting on here asked a question regarding putting a property in the son's name and our posts were off the point so I decided not to continue with answering your post.

Just need to say that everyone's circumstances are different and there are so many different opinions on the subject of care.

Oldernotwiser

It seems to me to be a discussion thread; I certainly don't know what else you'd call it!