Gifting a Propertry

MrEnigma

^ Yes was looking into that as well.

I think I will let mother live there rent free, as there are no real benefits on that it seems.

ScorpiondeRooftrouser

MrEnigma wrote: »

^ Yes was looking into that as well.

I think I will let mother live there rent free, as there are no real benefits on that it seems.

I imagine you mean "she will decide to live there rent free". I don't see how you are in a position to "let" her do anything.

Person_one

MrEnigma wrote: »

^ Yes was looking into that as well.

I think I will let mother live there rent free, as there are no real benefits on that it seems.

Well that's awfully big of you, it being her house and all!

Dan-Dan

It doesnt take long for true colours to come out does it

xylophone

Another option worth considering (and speaking to a solicitor about) could be that you mother places the property into trust,

http://www.ageuk.org.uk/Documents/EN-GB/Factsheets/FS40_deprivation_of_assets_in_the_means_test_for_care_home_provision_fcs.pdf?dtrk=true

"What is deprivation of capital?
The term deprivation covers a broad range of ways in which the owner of an
asset might transfer it out of his or her possession. Annex E of the statutory
guidance provides the following common examples for the disposal of capital:
 a lump-sum payment to someone else, for example as a gift;
 substantial expenditure has been incurred suddenly and is out of character
with previous spending;
 the title deeds of a property have been transferred to someone else;
 assets have been put in to a trust that cannot be revoked;