slighty off topic

mrginge

kaffinity wrote: »

You are missing the point. By working for 50 years he has earned his care if he needs it. And that's key. He could get run over by a bus and die (god forbid) and never need to go into any type of home so he wants to gift me his property now. 70k would last no time at all. My cousin's care is currently 550 a week.

In what way does this garbled rhetoric answer the question i asked?

Perhaps i can ring up hmrc and tell them I shouldn't have to pay 40% tax anymore because i've worked all my life and there's some people out there that get free prescriptions and a cheap council house.

troubleinparadise

Whilst such a generous gift would secure your inheritance, it would leave him rather insecure and with no control over his place of residence.

If you wished to sell the house, you could.

If you divorce or go bankrupt, the house forms part of your assets which could be claimed against.

If you die before your father, again the house would form part of your estate, and again he risks losing his home (though this could be protected with a well-written will).

Then there is the final double jeopardy scenario - you yourself lose mental capacity and your own attorney needs to sell the house to fund your living expenses or residential care costs.

And don't forget, you could always care for him if he needs it so that he doesn't need to go into a residential home - that way he could keep his home and be cared for. Both problems solved without needing to spend anything.

kaffinity

mrginge wrote: »

In what way does this garbled rhetoric answer the question i asked?

Perhaps i can ring up hmrc and tell them I shouldn't have to pay 40% tax anymore because i've worked all my life and there's some people out there that get free prescriptions and a cheap council house.

Whilst I am all for a debate and discussion I don't see the need to be offensive mrgringe. So sorry I am clearly not as articulate as you with my 'garbled rhetoric'. Clearly you deserve your high income.

kaffinity

troubleinparadise wrote: »

Whilst such a generous gift would secure your inheritance, it would leave him rather insecure and with no control over his place of residence.

If you wished to sell the house, you could.

If you divorce or go bankrupt, the house forms part of your assets which could be claimed against.

If you die before your father, again the house would form part of your estate, and again he risks losing his home (though this could be protected with a well-written will).

Then there is the final double jeopardy scenario - you yourself lose mental capacity and your own attorney needs to sell the house to fund your living expenses or residential care costs.

And don't forget, you could always care for him if he needs it so that he doesn't need to go into a residential home - that way he could keep his home and be cared for. Both problems solved without needing to spend anything.

Very valid points thank you. They do need considered without doubt.

marsman802

There is no issue with anyone doing whatever they please as long as they operate within the law and pay the taxes according to that law.

I don't care for all these loopholes etc as the law is the law. Don't like a loophole? then change the law and close it.

mrginge

kaffinity wrote: »

Whilst I am all for a debate and discussion I don't see the need to be offensive mrgringe. So sorry I am clearly not as articulate as you with my 'garbled rhetoric'. Clearly you deserve your high income.

I'm delighted that you're all for debate and discussion.
Any chance you could answer my question then?

Why should general taxation have to fund the care of someone who has a 70k asset ?

kaffinity

troubleinparadise wrote: »

Whilst such a generous gift would secure your inheritance, it would leave him rather insecure and with no control over his place of residence.

If you wished to sell the house, you could.

If you divorce or go bankrupt, the house forms part of your assets which could be claimed against.

If you die before your father, again the house would form part of your estate, and again he risks losing his home (though this could be protected with a well-written will).

Then there is the final double jeopardy scenario - you yourself lose mental capacity and your own attorney needs to sell the house to fund your living expenses or residential care costs.

And don't forget, you could always care for him if he needs it so that he doesn't need to go into a residential home - that way he could keep his home and be cared for. Both problems solved without needing to spend anything.

Very valid points thank you. They do need considered without doubt.

kaffinity

You are really quite offensive mrgringe. He may never need care. If he gifts his house to me now and he does need care. I will ensure he gets it whether I need to use his asset or not. I don't intend breaking any laws which is why I asked the question on his behalf in the first place. I am not suggesting anything to him he has asked me to find out how he can look after me. He is extremely fit and well now thank god. We aren't criminals and I still think its reasonable he should want to protect his asset. If legally he shouldn't and must not I will explain that despite it seeming unfair when those who have not contributed anything all their lives get everything handed to them.

mrginge

First off you could at least get my name right.

Second, you posted this ...

kaffinity wrote: »

Why should he work all his life to buy a home to leave to me when those who have never worked and live in social housing get their care paid for?

In response I asked a general question as to why I, as a taxpayer who (willingly) contributes to supporting those in our society who are either less fortunate or less financially secure than I am, should also be expected to contribute towards the provision of social care to those who can afford it themselves.

Your response was to ignore this question, personalise it (which i didn't do) and tell me i don't know what i'm talking about.

If you'd asked if it was possible for your father to take his 70k and blow it all on himself to avoid it being used for potential care costs then i'd be more sympathetic. However, you didn't. You asked how YOU could get your hands on it.

kaffinity

At his request yes I did. I never asked for or wanted your sympathy either as I was honest in my question. Why not go and bother somebody else if I offend you so much. Im sure you can go and vent your sarky nasty attitude elsewhere.