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Care Fees Deferral

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  • Briskly
    Briskly Posts: 97 Forumite
    Sixth Anniversary 10 Posts Name Dropper
    Thanks again Xylophone for this very clear and helpful advice. There is not way my friend could get a mortgage for the amount of money involved, so it looks like there will have to be sale. But that could take a long time for all the reasons you mention and with Covid on top. So long as my friend couldn't be forced into a quick cheap sell.
  • xylophone
    xylophone Posts: 45,621 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I have just seen your post above concerning the marital situation of the sister.

    With regard to the sister's marital home, regardless of whether or not she is on  the deeds of that property, it is still an asset of the marriage and must be taken into account in the divorce settlement as must all marital assets, that is to say the assets of both parties.

    The sister now has another asset - her 25% beneficial interest in the parental home which will also need to be taken into account in the divorce settlement.

    Time  for both sisters to take professional advice from a solicitor?




  • elsien
    elsien Posts: 36,058 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 4 May 2020 at 12:07PM
    Depending on the length of the marriage, the starting point for any split is 50/50 to include the assets of both parties including property, savings and pensions regardless of whose names they are in. Figures can then be varied according to circumstances (such as dependent children) and agreement. The sister should make sure she gets proper legal advice about this.
    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.
  • Briskly
    Briskly Posts: 97 Forumite
    Sixth Anniversary 10 Posts Name Dropper
    Thanks again guys for this. What a mess!
  • xylophone
    xylophone Posts: 45,621 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    What a mess!

    Your friend can be grateful that her parents held the property as TiC and that the beneficial interest (in each case, I assume) was not left to the other spouse.

    Had it been, then the whole of the sale proceeds of the property would have been Mother's....

    Will there be any IHT to pay? 

    Is your friend the executor of her father's estate? She should remember to take into account the residential nil rate band for Father as he left his share to his direct descendants.


  • Briskly
    Briskly Posts: 97 Forumite
    Sixth Anniversary 10 Posts Name Dropper
    xylophone said:
    What a mess!

    Your friend can be grateful that her parents held the property as TiC and that the beneficial interest (in each case, I assume) was not left to the other spouse.

    Had it been, then the whole of the sale proceeds of the property would have been Mother's....

    Will there be any IHT to pay? 

    Is your friend the executor of her father's estate? She should remember to take into account the residential nil rate band for Father as he left his share to his direct descendants.


    Yes - it is good about the TiC!. There shouldn't be any IHT as the house is probably worth about £400,000 (yet who knows these days) and very little savings.  My friend and her sister are the executors - thank goodness - so no solicitors' fees. Thanks for the reminder about the residential nil band. I guess probate is taking ages at the moment. Should be grateful the huge new fees weren't brought in!
  • elsien
    elsien Posts: 36,058 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Depending on  when dad died and where sister was in the divorce process at the time, it may not be included as a marital asset. But as xylophone said, legal advice needed. 
    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.
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