Transfer of ownership

margaretclare

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 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!

I am amazed that such an independent lady can even contemplate, cold-bloodedly, the possibility of spending her remaining time on earth in a care home.


Has she even the slightest conception of what a fate like that would be like?


I have worked in them and it's not something I could contemplate for myself or anyone close to me. I realise that for some people there is no alternative, but there might be another way of approaching the question.


Not long ago we visited a former colleague of my DH in a home in Virginia Water, Surrey. If I really had to - and he did - I wouldn't mind ending my days in a home like that. But, but, but....when we went to his funeral we were told by other friends just how he'd managed it. He had made very good investments over a long period of time and, before going into the home, had sold his house. See where this is leading?


By contrast, your mum hopes to disinherit herself, get rid of all her assets, in the hope that what she has paid in the past will ensure her a comfortable future. So she'll be left with the cheapest, possibly no choice at all, over where she spends her final days, simply because she thinks she has paid enough in the past.

Silvertabby

The question of paying for care apart (not everyone has to go into a nursing home) you, your mum and your brother need to consider other possible scenarios.

House transferred into your and your brother's names:

Are you and/or your brother married? If either of your marriages were to break up, then your/his half share of the house would be a marital asset and up for grabs. Where would your mother live if the house had to be sold?

If you or your brother were to be made bankrupt, then your/his creditors could demand that the house be sold. Repeat the question re where your mother would live.

If you or your brother become unemployed for any reason, your benefits assessor will take into account the fact that you are property owners.

The house needs a new roof/boiler etc. You and your brother own the house, so your joint responsibility.

I'm sure the solicitor will have other jugs of cold water to throw on this idea.

humptydumptybits

OP if I was you I would definitely go along to the solicitors with her, if you refuse to get involved she will probably transfer it to your brother and then there is nothing you can do. If she goes ahead, obviously bad idea, at least if it is 50% yours you can sell and use your half to pay for her care if she needs it. You can also hopefully make your reservations clear to the solicitor and hopefully they will back you up.


Sorry people have been unpleasant, your first post was quite clear.

DairyQueen

I wouldn't start worrying too much until after the solicitor's visit. S/he should put her straight. To add to the other consequences already stated:

1) Does she really want to cause a rift between her children?
2) Residential care is a bastion of inequality. The haves (self-funded) have a choice of decent places whilst the have-nots (LA-funded) can expect to be placed wherever there is space. There is a very high demand for decent homes and many of the good ones won't accept those who are LA-funded. She may get very lucky. Chances are she won't. Across England, LAs pay an average of £300+ per week, self-funders pay in excess of £800 per week. Does she understand the reality of that difference?

NB: Mother-in-law moved to a very good residential home last year (not available to those who are LA-funded) and we thank the lord that the proceeds from her house will cover the cost. We looked at several and, believe me, I wouldn't board my cat in some of those used by the LA.

My suggestion (for what it's worth). Calmly tell her all the potential consequences and then let the solicitor do his/her job.

Good luck.

Silvertabby

DairyQueen wrote: »

I wouldn't start worrying too much until after the solicitor's visit. S/he should put her straight. To add to the other consequences already stated:

1) Does she really want to cause a rift between her children?
2) Residential care is a bastion of inequality. The haves (self-funded) have a choice of decent places whilst the have-nots (LA-funded) can expect to be placed wherever there is space. There is a very high demand for decent homes and many of the good ones won't accept those who are LA-funded. She may get very lucky. Chances are she won't. Across England, LAs pay an average of £300+ per week, self-funders pay in excess of £800 per week. Does she understand the reality of that difference?

NB: Mother-in-law moved to a very good residential home last year (not available to those who are LA-funded) and we thank the lord that the proceeds from her house will cover the cost. We looked at several and, believe me, I wouldn't board my cat in some of those used by the LA.

My suggestion (for what it's worth). Calmly tell her all the potential consequences and then let the solicitor do his/her job.

Good luck.

I looked at several homes when a friend was looking for a place for her mother. In the case of LA ones she could have been placed in a shared bedroom with 1 or 2 other ladies, and would have had to use a communal bathroom. The private homes, however, all had beautiful suites with en-suite bathrooms.

margaretclare

Silvertabby wrote: »

I looked at several homes when a friend was looking for a place for her mother. In the case of LA ones she could have been placed in a shared bedroom with 1 or 2 other ladies, and would have had to use a communal bathroom. The private homes, however, all had beautiful suites with en-suite bathrooms.

We require an en suite bathroom when we go on holiday, so why wouldn't we require one in the final days of our lives?

humptydumptybits

My aunt, with dementia, is in a beautiful home costing more than £1,300 per week. She has an en suite toilet and hand basin but not a shower. This is for safety reasons, well that is what I was told. She has had falls and the risk of her deciding to have a shower and falling was considered unreasonable so she couldn't have an en suite shower. At the time I wasn't too convinced but as the months have gone by I realised it was sensible.

margaretclare

I believe this covers all aspects of the problem:


https://www.which.co.uk/elderly-care/financing-care/gifting-assets/343064-legal-transfer-of-property?utm_source=facebook&utm_medium=social

alanq

margaretclare wrote: »

I believe this covers all aspects of the problem:
https://www.which.co.uk/elderly-care/financing-care/gifting-assets/343064-legal-transfer-of-property?utm_source=facebook&utm_medium=social

That page is chiefly concerned with inheritance tax. A more relevant page concerning the implications of attempting to avoid paying for care is indirectly referenced.


https://www.which.co.uk/elderly-care/financing-care/gifting-assets-and-property/343063-what-are-the-rules-for-gifting-assets

badmemory

Silvertabby wrote: »

I'm sure the solicitor will have other jugs of cold water to throw on this idea.

I'm sure he will. I spoke to a solicitor about giving my son half our house a short while ago. I can see no possiblity of him ever leaving home & I worry that whilst I have plenty of savings I don't want him to land up homeless just because when I am 90 he will only be 55, so too young to retain residency. The solicitor stomped quite firmly on the idea.