Transfer of ownership

Snowy_da_cat

My 82 year old mother has decided that she wants to transfer deeds of ownership on her property to myself and my brother to 'avoid paying care home fees as they have taken enough money off me in my lifetime and continue to do so through my pension'.
She says that as I privately rent I should have the property to be able to have a secure roof over my head when I am 'old' (obviously I am always young to her!).
My problem is that I do not want her to do it! If she needs to sell the property to pay care home fees, should she ever need it, then she should do that. My brother however, agrees with her! If she transfers to the both of us then he would refuse to sell his portion to pay for care home costs. She is going to see a solicitor this week to draw up the necessary documents.
My question is, does she need my permission to put my name on the deeds? Do I have any control over this or does she get to do what she wants and is there any financial ramifications on me for doing so? I really cannot afford to have to pay out for any fees etc that may become due to me because she has done this.
She is a VERY independent lady and although I am available if she needs me, does not need a full time (or even part time) carer and is certainly sound of mind!
Snowy

Pollycat

Snowy_da_cat wrote: »

My 82 year old mother has decided that she wants to transfer deeds of ownership on her property to myself and my brother to 'avoid paying care home fees as they have taken enough money off me in my lifetime and continue to do so through my pension'.
She says that as I privately rent I should have the property to be able to have a secure roof over my head when I am 'old' (obviously I am always young to her!).
My problem is that I do not want her to do it! If she needs to sell the property to pay care home fees, should she ever need it, then she should do that. My brother however, agrees with her! If she transfers to the both of us then he would refuse to sell his portion to pay for care home costs. She is going to see a solicitor this week to draw up the necessary documents.
My question is, does she need my permission to put my name on the deeds? Do I have any control over this or does she get to do what she wants and is there any financial ramifications on me for doing so? I really cannot afford to have to pay out for any fees etc that may become due to me because she has done this.
She is a VERY independent lady and although I am available if she needs me, does not need a full time (or even part time) carer and is certainly sound of mind!
Snowy

You do really need to read up on 'Deprivation of capital'.

My question is - why do you think I and other taxpayers should fund your mother's care (if she should need it)?
They have taken enough money off me in my lifetime and continue to do so through my pension.

Snowy_da_cat

I fail to see your point. I believe that is what I am saying.

Pollycat

Snowy_da_cat wrote: »

I fail to see your point. I believe that is what I am saying.

OK.
I'll try to make it clearer.

If your Mother transfers her house to you to avoid paying care home fees, who do you think will be paying for her care?

Me and all the other taxpayers.

Why should I and all the other taxpayers fund your Mother's care when she has assets?
I really have paid enough money in my lifetime in taxes and national insurance - and continue to pay tax through my pension - so why should I fund someone else who can afford to pay for her own care (should she need it)?

And have you and your Mother considered that if she doesn't have money to fund her own care (because you've got her assets) she'll be put in whatever care home the council can find for the least cost?
Is that the potential future a VERY independent lady wants for herself?

Farway

Snowy_da_cat wrote: »

My brother however, agrees with her! If she transfers to the both of us then he would refuse to sell his portion to pay for care home costs. She is going to see a solicitor this week to draw up the necessary documents.

As per Pollycat, you / brother must read about "deprivation of assets", which is what your mother intends doing. Here's a link http://www.payingforcare.org/deprivation-of-assets which spells it out in plain English

Your brother will find out the hard way there is not such thing as refusal to sell when assets have been deliberately removed, and the local authority will see you both in court eventually, and your mother may have needless worries added in

Hopefully the solicitor she sees will tell her this

margaretclare

Pollycat wrote: »

You do really need to read up on 'Deprivation of capital'.

My question is - why do you think I and other taxpayers should fund your mother's care (if she should need it)?
They have taken enough money off me in my lifetime and continue to do so through my pension.

I too am 82 and highly-independent so that's the same as your mum. I'm still happily married though (thank goodness).



My perspective, if I were in her situation, would be totally opposite. I don't understand what she means about 'they have taken enough money off me...and continue to do so'.


DH and I have been taxpayers since the early 1950s and we continue to pay tax. We'll be paying tax as long as we live. And we are still saving because we simply don't know what we may need in time to come.



I recently cashed in some investments in order to give my GD a deposit so that she can exercise her RTB. But I certainly wouldn't give anyone, anyone at all, our major asset, which is our house property.



Further, how can you give this away to someone else, but still continue to live in it?

alanq

Where is mother planning to live after signing over the house? If she stays in the house without paying market rate rent to you / your brother and thinks that she will also avoid any inheritance tax due then she is mistaken.

alanq

Pollycat wrote: »

My question is - why do you think I and other taxpayers should fund your mother's care (if she should need it)?.

Read the first post again. It's not the OP that is of this opinion it's their mother and brother.

Hence

Snowy_da_cat wrote: »

I fail to see your point. I believe that is what I am saying.

Pollycat

alanq wrote: »

Read the first post again. It's not the OP that is of this opinion it's their mother and brother.

Hence

OK.
Why does the OP's Mother think I and other taxpayers should pay for her care when she has assets i.e. her house?

Pollycat wrote: »

I really have paid enough money in my lifetime in taxes and national insurance - and continue to pay tax through my pension - so why should I fund someone else who can afford to pay for her own care (should she need it)?

Regardless of whose idea it is, this ^^^^ still applies.

Snowy_da_cat

It appears obvious that I will not gain a civil answer to my original question of whether I am able to stop her doing what I believe to be the wrong thing. I will therefore opt out with the only words I ever get when trying to discuss anything financial with my mother...
'It's my money and I will do what I want with it'.

Pollycat

Snowy_da_cat wrote: »

It appears obvious that I will not gain a civil answer to my original question of whether I am able to stop her doing what I believe to be the wrong thing. I will therefore opt out with the only words I ever get when trying to discuss anything financial with my mother...
'It's my money and I will do what I want with it'.

That's all well and good as long as she doesn't drop you in the s**t whilst doing whatever she wants with her own money.

As suggested before you need to read up on deprivation of assets and either explain it to her (and your brother) or get her to read up on the implications herself.
A decent solicitor should explain the pitfalls in what she's planning to do.