Can you create a trust to avoid losing inheritance to a means tested caring costs

Proxima_Centauri

Proxima_Centauri wrote: »

I could be wrong but you're likely to get hostile replies to this on here.

As I suspected... I wasn't wrong.

fairy_lights wrote: »

I'm going to get the popcorn in before this really kicks off, anyone want any?

Make it sweet toffee flavoured, I'm in need of a bit of sugar right now

POPPYOSCAR

Judi wrote: »

Oh dear. OP you havent been on these boards long have you?

I would disagree.

I think the OP knows exactly what they are doing.

Tammykitty

AylesburyDuck wrote: »

How silly of us to misunderstand, of course we'll all pay for his care through our taxes so it doesnt hurt your inheritance.
I think you'll find deprivation of assets is an offence.
If you cant see what your asking is just plain wrong, i suggest you adjust your moral compass.

Deprivation of capital is not an offence.


You are free to give away your money and assets as you see fit, you will however be assessed as if you still had them.

Marvel1

Wondful life of greed and entitlement instead of earning your own.

FBaby

The tax avoidance business is one thing, but do you have any idea of what the difference is between a nice private nursing home and one run by the council? Have you visited any? Do you realise that once older people move into one, it becomes their home for the rest of their lives?

Are you truly saying that you would be absolutely fine for your dad to move to a place he will come home that offers only the strict minimum level of care, no little extras, no treats, no spacious room, sky TV etc... just so that you can grab his capital? Didn't he work hard to afford his home? What can't you and your siblings just do the same?

tooldle

My mum is in a care home. She is selfunding, so the house was sold and the funds are invested. She draws an income from the capital and combines this with her pension to cover fees. So far she has been in the home for three years and the capital is increasing.
If your fathers house has a significant value, managed wisely the funds will likely not diminish a huge amount.
Take a look at a few place that accept council funded residents. I have, and would only consider as a very last resort.

POPPYOSCAR

tooldle wrote: »

My mum is in a care home. She is selfunding, so the house was sold and the funds are invested. She draws an income from the capital and combines this with her pension to cover fees. So far she has been in the home for three years and the capital is increasing.
If your fathers house has a significant value, managed wisely the funds will likely not diminish a huge amount.
Take a look at a few place that accept council funded residents. I have, and would only consider as a very last resort.

My aunt is in a care home.

She has been there three years at a cost of £40,000 per year.

My cousin is peeved that the lady in the room next door does not pay this.

Perhaps it should be compulsory for everyone to save or have some sort of insurance policy for care in later life.

Person_one

POPPYOSCAR wrote: »

My aunt is in a care home.

She has been there three years at a cost of £40,000 per year.

My cousin is peeved that the lady in the room next door does not pay this.

Perhaps it should be compulsory for everyone to save or have some sort of insurance policy for care in later life.

Maybe everybody should get equal wages then, or disability benefits. :cool:

tooldle

Reality is that many especially women, did not earn enough to have large savings pots. Not worth worrying about what someone else may or may not have got.

svain

wow .... really is some very unpleasant and judgemental people on this thread, For one, it is not unusual for people to NOT want their assets swallowed up by their care costs and would prefer it passed as inheritance or gifted. And as for the people thinking that going private care homes automatically means better home are sadly mistaken. There are some awful privately funded care homes around aswell as excellent council homes