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Selling house to pay for care home
Comments
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Pay for care like everyone else, there is a reason why the deprivation of assets was put in place, to stop people taking advantage of the tax payer.
Double edge sword...you've got nothing and get looked after to some extent, do well in life just pay even more in the long term.Official MR B fan club,dont go............................0 -
This "mutual will" you mention, do you mean that someone else inherited this house, but with a life interest for the mum? Is it not hers now to sell.
How can a will otherwise stop a living person from selling their own property, either with or without PoA??How's it going, AKA, Nutwatch? - 12 month spends to date = 3.24% of current retirement "pot" (as at end December 2025)0 -
Double edge sword...you've got nothing and get looked after to some extent, do well in life just pay even more in the long term.
It's the way society works now, the less well off is subsidized to an extent by the rest of society. Better that than have homeless elderly on the streets
Look at Japan who are neglecting their elderly, they are in fact committing crimes just to get a jail sentences for free bed and board
https://www.bbc.co.uk/news/stories-47033704"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
It's the way society works now, the less well off is subsidized to an extent by the rest of society. Better that than have homeless elderly on the streets
True..whilst i'm a few years away from it,i'm surprised there is'nt some sort of insurance that could be paid to help funding? or is there?Official MR B fan club,dont go............................0 -
True..whilst i'm a few years away from it,i'm surprised there is'nt some sort of insurance that could be paid to help funding? or is there?
It would not be commercially viable as everyone will claim at some point, at least with life insurance, there is a age limit"It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
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That wouldn't be the case - not many of us will end up in residential care.
Most people manage to live at home until they die.
perhaps not most, but Residential and nursing homes cost as much as a full time average worker, it would be too expensive for insurers to pay out.
You are more likely to claim statistically than say Life insurance until you retire for mortgage purposes
Insurers won't have data on who will and won't claim and nor can they depend on what you wanted x years ago and not wanting to claim. things changE very quickly if you have a few strokes, get disabled e.t.c family can't cope."It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"
G_M/ Bowlhead99 RIP0 -
perhaps not most, but Residential and nursing homes cost as much as a full time average worker, it would be too expensive for insurers to pay out.
You are more likely to claim statistically than say Life insurance until you retire for mortgage purposes
Insurers won't have data on who will and won't claim and nor can they depend on what you wanted x years ago and not wanting to claim. things changE very quickly if you have a few strokes, get disabled e.t.c family can't cope.
Interestingly in terms of claiming, individuals would be at the mercy of an assessor deciding who can claim and who can't.Official MR B fan club,dont go............................0 -
I would also try to claim NHS continuing care. It is paid, or not, irrelevant of assets and income, if the person is eligible. Not easy to get though.
Google it, and there are plenty of sites with info.0 -
morgandlin wrote: »I would also try to claim NHS continuing care. It is paid, or not, irrelevant of assets and income, if the person is eligible. Not easy to get though.
Google it, and there are plenty of sites with info.
If she's only just diagnosed, it's very unlikely she'd be anywhere near qualifying.
OP, to get more specific advice you do need to answer the questions from Seashell about what you mean by a mutual will.
Either the house is hers to sell, or it isn't. Which is it?All shall be well, and all shall be well, and all manner of things shall be well.
Pedant alert - it's could have, not could of.0
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