Help parents

booksurr

heidi279 wrote: »

I dont need anything in return from my parents - I help them in every way I can, unfortunately, despite working full time shifts all my working life I don't have this sort of money to give them. I wish I did! My brother and sister also work full tine and always have done, but he has a family of his own and my sister lives in a small fiat and is expecting her first baby so they are in no position to help out extensively. It's not easy living in the south of the country - property is soooo expensive!

you have not answered the question, why should they sign over the house?

if you are struggling financially yourself then why is you becoming the owner of the house tied in with your ability to give, or not give, them money, whether that be a lump sum or a monthly supplement to their income?

if you cannot give them money without becoming an owner and therefore able to raise a mortgage against it that is as said a different position to you simply giving them money each month in return for being made an owner

the implications of both scenarios are vastly different for both you and your parents

McKneff

Unless they are in major debt, I cant see how they are struggling.


Father will be getting state pension of around £500 a month. Also A monthly DLA payment, you don't say at which level.


mother may be getting state pension, or possibly careres allowance for you father, or JSA.


No mortgage, and only utilities and food to pay for......


A statement of affairs would be a better idea.

Mojisola

Given that they could be around for another 20 years and none of you have spare money to keep bailing them out, they are going to have to look at their spending or downsizing or part-time work. If Mum is fit and only 62, she could carry on working for some years.

BitterAndTwisted

They could sell up and use that £180k of equity to rent somewhere in a cheaper area than they are in now and use some of that capital for the things they can't afford but would like to do.

Once that capital has gone they could be entitled to a contribution towards their rent and qualify for pension credits.

They have a property but presumably never made any provision for a private pension. Their property is their pension now if none of you can afford to support them to enjoy the lifestyle they would like to have.

If you can all afford to pay their CTax and bills, plus the upkeep and repairs between you then you should be doing this any way, rather than expecting them to sign the property over to you in exchange.

bitmadmax

Are you sure there is no way you can help your folks out for the time being? Afterall, you would probably be repaid a figure from your folk's estate once they pass on... Much rather them live out their days like that than living with uncertainty about the roof over their heads

cabbage

Local authorities do disabled facilities grant. It for adaptations etc but I don't think it will cover the roof but more for things like downstairs shower rooms, ramps etc.

They also do homeowner loans whereby the owners take a loan out secured on their home. They pay nothing during their lifetime and when they have both passed the local authority will seek to sell the house to repay the loan.

Was either your mum or dad in the armed forces? either paid or national service? if so The Royal British Legion have funds and would consider an application from your parents.

Finally, social services sometimes have a duty of care but without further details, it looks as if on the surface your parents aren't eligible.

RE benefits - are they getting Pension Credit. Is your mum getting the carer's premium - check with Citizen's Advice who can carry out a benefit check.

r2015

Unless they are in major debt, I cant see how they are struggling.

I wonder that as well.

No mortgage and our OAPs plus another £200 a month, we're 68 and 66 and manage a couple of holidays abroad each year.

We do drop hints to the kids that if we run out of money we'll sell the house and spend the money so no inheritance for them so get very generous birthday and Christmas presents and when we go visit and stay with them we hardly need to spend a penny. :rotfl:

Mojisola

They might be able to get help with the house repairs -
https://www.housingcare.org/guides/item-staying-at-home.aspx

margaretclare

Mojisola wrote: »

Given that they could be around for another 20 years and none of you have spare money to keep bailing them out, they are going to have to look at their spending or downsizing or part-time work. If Mum is fit and only 62, she could carry on working for some years.

They are relatively young.

Which level of DLA is Dad on?

They own their property so no rent to pay, but they could claim council tax benefit because of Dad on DLA (sorry, CTB is called something else now).

What income do they actually get? State retirement pension, DLA, pension credit?

It would be a good idea for them to go to their local Citizens Advice and get a benefits adviser to run through it all with them.

They are far too young for you to feel you have to 'sort all that for them'. Also, there are jobs for 62-year olds!

BigAunty

heidi279 wrote: »

I am aware of this "gifting property" thing and "deprivation of assets" and I take it this would still apply?

Yes, if your parents require means tested care or a care home, plus qualify for means tested benefits like council tax discount, then there could be significant issues if they transfer their capital (the property) into their childrens names, then claim to be too poor to pay council tax, care home fees and the like.

The Age UK website has the best information on this for people considering this risky strategy.

You indicate that they have enough for everyday living but not sufficient for luxuries like travel. Other strategies apart from the proposed capital transfer include upping their income and decreasing their expenditure.

The MSE website has a budget planner so they could download this, work through the site to work out where to slash expenses (cheapest tariffs, cheap recipes and ultra frugal living) and perhaps raise funds for a travelling fund out of this.

They could sell up and move into a 1 bed ground floor flat or cheaper retirement home, for example, and blow the equity they've released on a few cruises.

Any prospect of your mum gaining employment? Even a part time national minimum wage job would potentially increase their household income by £100 a week.