Added son to house title.

SDLT_Geek

00ec25 wrote: »

so you have sold a property which you and son jointly owned, but your son was liable for CGT on that property as, for at least of his ownership, it was not his sole main residence since university accommodation is regarded as the main residence for tax purposes

For some thoughts on main residence whilst at university see post #31 mentioning STTG4400.

AnotherJoe

Ownerofawreck wrote: »

I didn't realise I had posted this twice.
Fire Fox - I haven't bothered with a will as my only asset is the house and LPA's are blooming expensive, just done an health and welfare for my mother. I can make a simple will but will see if I can find a cheaper solicitor if an LPA will help. .

£79 in Scotland. £82 England. Double if you get both health and finance. (I'm sceptical about use of health but that's another story)
How is that "blooming expensive" ?
No solicitor needed

AdrianC

AnotherJoe wrote: »

(I'm sceptical about use of health but that's another story)

When it becomes necessary, then a H&W LPA is just as essential as a P&F one... If not more so.

There's nothing worse than watching a relative's treatment diverging from what you know they would want, simply because you/they decided to save £80.

It'd be a special kind of special (and not in a good way...) to put money ahead of that.

AnotherJoe

Fair enough and I do have both but my experience over several drawn out severe and eventual end of life episodes with parents and PILs is that the medical staff defer to your wishes and don't ask about LPAs.
Thats over (collectively) dozens of staff, never once was the subject raised. Of course there may be circumstances where there's a clear divergence but I'm just coming from the position where in practice LPAs were never needed, plus we've all seen the cases where there have been major medical battles over care (usually a infant/child) and again LPAs are not the point at issue, it's what the medical profession deem is best.
I can see 99 out of 100 financial being used and maybe 1 in 100 health.

AdrianC

AnotherJoe wrote: »

Fair enough and I do have both but my experience over several drawn out severe and eventual end of life episodes with parents and PILs is that the medical staff defer to your wishes and don't ask about LPAs.

Often, yes. But... Especially if there's a family disagreement, with another relative being awkward.

AnotherJoe

AdrianC wrote: »

Often, yes. But... Especially if there's a family disagreement, with another relative being awkward.

Yes, if you had that sort of family then definitely worth getting. If you have just one child (presumably the OP?) who would be the guardian (forget the term) then probably not worth the effort/cost.

MovingForwards

The health ones are more beneficial if the person is in a care home.