New home in daughters name?

SandC

Absolutely MobileSaver, I do agree with you.

There is also the issue in the future of more people living alone anyway, as the younger generation increasingly do now, rather than being married or even with a partner.

I just think we have enough stuff to worry about day in day out anyway without stressing over something that might or might not happen years down the line. If you've worked hard to pay off a mortgage and own a property outright try to see it as a time to relax a bit, I'm sure that's what most children want for their parents after all.

Mojisola

MobileSaver wrote: »

I wouldn't bet on that still being the case in 10 years time when there's even less money about to spend on the ageing population.

I don't think the authorities will ever be able to force a sale if one partner still needed the house to live in but what they may do is put a charge on the house and take up to half the value when the house is sold.

I don't think any councils have tried this yet but I wouldn't be surprised if they tried to get the current rules changed so that they could.

InMyDreams

Upsidedown_Bear wrote: »

I found this, don't know if it's the one you mean

http://www.bbc.co.uk/news/uk-politics-13633966

Yes!!

Thank you!

IMD x

tesuhoha

I don't want my kids' inheritance to go into care payments either but what I am doing is losing weight, eating healthily and I have joined a gym to try to prevent that from happening. I want more than anything to be fit and well into my old age and would not like, from a personal point of view, to end up in a care home. I would rather die in my sleep in my own bed.

iris

SandC wrote: »

Put the care home situation into perspective anyway. Of all the people you know, how many ended up living for years in a nursing or care home before passing away?

My MIL lived in a care home for the last 10 years of her life and died at the age of 96. All of her costs were funded by the State since the age of 86 (prior to going into a care home she lived in a council house and had no savings). I must also add that her care home was lovely. It was brand new and purpose built, with ensuite rooms.

My Mother on the other hand had to sell her home to fund her care and spend 3+ years in a care home and also died at the age of 96. There was no inheritance.

I really don't know what the answer is to this dilemma.

Perhaps the answer is Equity Release.