Help needed Savings

Kev_Allison

RAS wrote: »

OP - you need to ask why mum is contributing to her keep when her savings are so low (unless this based on income that dad receives?)

And with assets that low, deprivation of assets should not be an issue unless dad gifts you the money during his life time (this would affect any means-tested benefits he receives).

Dad needs to write a new will urgently.

Based on Dads income as he has both a state pension, a private pension and an industrial injuries payment. Think Dad has around £400 a week income

RAS

So mum is likely still to be in receipt of a widow's pension when he dies?

He needs to write a new will urgently. Ask him who is solicitor is and suggest that dad speaks to his medical advisors urgently to get their assessment of his capacity to make a new will.

Kev_Allison

RAS wrote: »

So mum is likely still to be in receipt of a widow's pension when he dies?

He needs to write a new will urgently. Ask him who is solicitor is and suggest that dad speaks to his medical advisors urgently to get their assessment of his capacity to make a new will.

No idea. It seems no one will speak to me without POA or until Dad dies.

Spoke to a solicitor and no matter which way we/I do it, its still going to be deprivation of his their assets. If Dad goes first, which it is looking likely, then the money as it is in a joint account will be mothers, whom being non compus mentis, will refer to the state, who will take it all.
If we make a new will taking mother out of it and leaving the estate to myself and my brother, would this be classed as DOA ? Looking at what I can find on the internet, this seems to be the case. Either we, we are stuffed

RAS

Hi

He can still change the executorship.

And it would be a very good idea to open a new basic bank account in his name and move enough money into that to cover the funeral, unless he has an insurance policy etc to cover that cost?

Kev_Allison

RAS wrote: »

Hi

He can still change the executorship.

And it would be a very good idea to open a new basic bank account in his name and move enough money into that to cover the funeral, unless he has an insurance policy etc to cover that cost?

Funeral is already paid for, both his and hers. Something he did a few years ago. I have all the paperwork as well. I dont think the state know about this though, so thats £5k sorted that we can remove

Mojisola

Kev_Allison wrote: »

Spoke to a solicitor and no matter which way we/I do it, its still going to be deprivation of his their assets. If Dad goes first, which it is looking likely, then the money as it is in a joint account will be mothers, whom being non compus mentis, will refer to the state, who will take it all.

If we make a new will taking mother out of it and leaving the estate to myself and my brother, would this be classed as DOA ? Looking at what I can find on the internet, this seems to be the case. Either we, we are stuffed

The "state" does not "take it all". If your mother was at home, she would be paying rent, utilities, carers' wages, etc. Because she is in a home, she pays a small contribution to all the costs involved in keeping her there.

Have you been told whether she would be moved to a cheaper home if she can't continue to pay the top-up fees?

If your mother isn't left anything in your father's will, she won't have any assets to deprive herself of. What he can't do is give away her share of the matrimonial assets - that would get challenged by the LA.

If your father moves his half of their capital into another bank account, he could then leave it to someone other than his wife.

Kev_Allison

Thanks for all the replies. Dad has halved the money and given myself and brother equal halves of his share via cheques This means mothers share is still in their joint account.
Bank on Sat urday to put it into an ISA and just let it sit there and see what happens

fluffymuffy

Deprivation of Assets is a crime that you get away with once you die. My FIL did this - he put the house into tenants in common and left his half to his children so it couldn't be sold should my MIL ever need to go into care. Then he died. They can't prosecute him now.

Mojisola

fluffymuffy wrote: »

Deprivation of Assets is a crime that you get away with once you die. My FIL did this - he put the house into tenants in common and left his half to his children so it couldn't be sold should my MIL ever need to go into care. Then he died. They can't prosecute him now.

This wasn't DOA.

Your MIL's half of the house will be counted as her capital should she need care. The LA will put a charge on the house and reclaim anything owing to them when the house is sold.

His children may also be liable to capital gains tax when the property is sold, depending on the value of the property.