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How to Protect Parents Assets and avoid 'Deprivation of Assets'?

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  • bobster2
    bobster2 Posts: 951 Forumite
    Sixth Anniversary 500 Posts Photogenic Name Dropper
    edited 17 April 2023 at 6:56AM
    theshed said:
    I came to this forum looking for advice and I find a lot of judgemental people.
    The clue is in the name MONEY SAVING Expert. The OP is asking how best to protect assets, not defraud anyone.
    I am in a similar situation with my Dad and I can't tell you how proud he is thinking he can leave an inheritance for his Children and Grandchildren.
    This is someone who has worked his whole life, from National Service onwards, coming from a deprived background and living in rented accommodation for most of that time. The total inheritance is under £100,000 including house.
    It is particularly abhorrent that some have suggested care would be substandard if not paid for.
    Although not explicitly stated in the name, this site is about lawful money saving.

    There are legal ways to reduce IHT liabilities and provide for children / grandchildren etc.

    However, advising people on how to avoid committing an offence is not "judgemental" - it's surely an important part of giving good money saving advice...

    https://www.ramsdens.co.uk/blog/is-deprivation-of-assets-a-criminal-offence
  • Linton
    Linton Posts: 18,154 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Hung up my suit!
    edited 17 April 2023 at 8:45AM
    theshed said:
    I came to this forum looking for advice and I find a lot of judgemental people.
    The clue is in the name MONEY SAVING Expert. The OP is asking how best to protect assets, not defraud anyone.
    I am in a similar situation with my Dad and I can't tell you how proud he is thinking he can leave an inheritance for his Children and Grandchildren.
    This is someone who has worked his whole life, from National Service onwards, coming from a deprived background and living in rented accommodation for most of that time. The total inheritance is under £100,000 including house.
    It is particularly abhorrent that some have suggested care would be substandard if not paid for.
    But trying to live off benefits when you have the wealth to pay for your living costs yourself is defrauding other people. It isn’t “Money Saving”.

     How would you feel about people protecting their wealth by hiding it or giving it away and claiming housing benefit or applying for social housing?
  • theshed
    theshed Posts: 225 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    theshed said:

    It is particularly abhorrent that some have suggested care would be substandard if not paid for.
    All care is paid for, there is no magic care tree which provides free care. Either you and your family pay or the rest of us pay for you via our council tax and general taxation. In the former case, you have choice and control, in the latter, you get what you are given.  
    I think that is what is called Stating the Obvious.
    Thanks for your input.
  • theshed
    theshed Posts: 225 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    bobster2 said:
    theshed said:
    I came to this forum looking for advice and I find a lot of judgemental people.
    The clue is in the name MONEY SAVING Expert. The OP is asking how best to protect assets, not defraud anyone.
    I am in a similar situation with my Dad and I can't tell you how proud he is thinking he can leave an inheritance for his Children and Grandchildren.
    This is someone who has worked his whole life, from National Service onwards, coming from a deprived background and living in rented accommodation for most of that time. The total inheritance is under £100,000 including house.
    It is particularly abhorrent that some have suggested care would be substandard if not paid for.
    Although not explicitly stated in the name, this site is about lawful money saving.

    There are legal ways to reduce IHT liabilities and provide for children / grandchildren etc.

    However, advising people on how to avoid committing an offence is not "judgemental" - it's surely an important part of giving good money saving advice...

    https://www.ramsdens.co.uk/blog/is-deprivation-of-assets-a-criminal-offence
    There is nothing unlawful about trying to protect assets. There is actual reference in ways to do this on the DWP website.
    As you would expect nothing specific, hence I thought I would try here. Mistake. ☹️
    Thanks for your input.
  • theshed
    theshed Posts: 225 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    Linton said:
    theshed said:
    I came to this forum looking for advice and I find a lot of judgemental people.
    The clue is in the name MONEY SAVING Expert. The OP is asking how best to protect assets, not defraud anyone.
    I am in a similar situation with my Dad and I can't tell you how proud he is thinking he can leave an inheritance for his Children and Grandchildren.
    This is someone who has worked his whole life, from National Service onwards, coming from a deprived background and living in rented accommodation for most of that time. The total inheritance is under £100,000 including house.
    It is particularly abhorrent that some have suggested care would be substandard if not paid for.
    But trying to live off benefits when you have the wealth to pay for your living costs yourself is defrauding other people. It isn’t “Money Saving”.

     How would you feel about people protecting their wealth by hiding it or giving it away and claiming housing benefit or applying for social housing?
    All relevant but I would not call sub £100,000 'wealth' and it would certainly not last long in paying for private care.
    What happens when the money runs out. Shipped out to another home ?
    Thanks for your input.
  • bobster2
    bobster2 Posts: 951 Forumite
    Sixth Anniversary 500 Posts Photogenic Name Dropper
    edited 17 April 2023 at 10:22AM
    theshed said:
    bobster2 said:
    theshed said:
    I came to this forum looking for advice and I find a lot of judgemental people.
    The clue is in the name MONEY SAVING Expert. The OP is asking how best to protect assets, not defraud anyone.
    I am in a similar situation with my Dad and I can't tell you how proud he is thinking he can leave an inheritance for his Children and Grandchildren.
    This is someone who has worked his whole life, from National Service onwards, coming from a deprived background and living in rented accommodation for most of that time. The total inheritance is under £100,000 including house.
    It is particularly abhorrent that some have suggested care would be substandard if not paid for.
    Although not explicitly stated in the name, this site is about lawful money saving.

    There are legal ways to reduce IHT liabilities and provide for children / grandchildren etc.

    However, advising people on how to avoid committing an offence is not "judgemental" - it's surely an important part of giving good money saving advice...

    https://www.ramsdens.co.uk/blog/is-deprivation-of-assets-a-criminal-offence
    There is nothing unlawful about trying to protect assets. There is actual reference in ways to do this on the DWP website.
    As you would expect nothing specific, hence I thought I would try here. Mistake. ☹️
    Thanks for your input.
    There are legal ways to protect assets - and there are illegal ways.
    Your "nothing unlawful" comment is a response to the post where I provided this link explaining how deprivation of assets can be a criminal offence...
    It's not the DWP who would pursue someone for deprivation of assets aimed at avoiding paying for social care - it would a local authority.
  • theshed
    theshed Posts: 225 Forumite
    Part of the Furniture 100 Posts Name Dropper Combo Breaker
    bobster2 said:
    theshed said:
    bobster2 said:
    theshed said:
    I came to this forum looking for advice and I find a lot of judgemental people.
    The clue is in the name MONEY SAVING Expert. The OP is asking how best to protect assets, not defraud anyone.
    I am in a similar situation with my Dad and I can't tell you how proud he is thinking he can leave an inheritance for his Children and Grandchildren.
    This is someone who has worked his whole life, from National Service onwards, coming from a deprived background and living in rented accommodation for most of that time. The total inheritance is under £100,000 including house.
    It is particularly abhorrent that some have suggested care would be substandard if not paid for.
    Although not explicitly stated in the name, this site is about lawful money saving.

    There are legal ways to reduce IHT liabilities and provide for children / grandchildren etc.

    However, advising people on how to avoid committing an offence is not "judgemental" - it's surely an important part of giving good money saving advice...

    https://www.ramsdens.co.uk/blog/is-deprivation-of-assets-a-criminal-offence
    There is nothing unlawful about trying to protect assets. There is actual reference in ways to do this on the DWP website.
    As you would expect nothing specific, hence I thought I would try here. Mistake. ☹️
    Thanks for your input.
    There are legal ways to protect assets - and there are illegal ways.
    Your "nothing unlawful" comment is a response to the post where I provided this link explaining how deprivation of assets can be a criminal offence...
    It's not the DWP who would pursue someone for deprivation of assets aimed at avoiding paying for social care - it would a local authority.
    There are legal ways to protect assets
    This what I was hoping to find info' on.
  • Keep_pedalling
    Keep_pedalling Posts: 20,762 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    theshed said:
    bobster2 said:
    theshed said:
    bobster2 said:
    theshed said:
    I came to this forum looking for advice and I find a lot of judgemental people.
    The clue is in the name MONEY SAVING Expert. The OP is asking how best to protect assets, not defraud anyone.
    I am in a similar situation with my Dad and I can't tell you how proud he is thinking he can leave an inheritance for his Children and Grandchildren.
    This is someone who has worked his whole life, from National Service onwards, coming from a deprived background and living in rented accommodation for most of that time. The total inheritance is under £100,000 including house.
    It is particularly abhorrent that some have suggested care would be substandard if not paid for.
    Although not explicitly stated in the name, this site is about lawful money saving.

    There are legal ways to reduce IHT liabilities and provide for children / grandchildren etc.

    However, advising people on how to avoid committing an offence is not "judgemental" - it's surely an important part of giving good money saving advice...

    https://www.ramsdens.co.uk/blog/is-deprivation-of-assets-a-criminal-offence
    There is nothing unlawful about trying to protect assets. There is actual reference in ways to do this on the DWP website.
    As you would expect nothing specific, hence I thought I would try here. Mistake. ☹️
    Thanks for your input.
    There are legal ways to protect assets - and there are illegal ways.
    Your "nothing unlawful" comment is a response to the post where I provided this link explaining how deprivation of assets can be a criminal offence...
    It's not the DWP who would pursue someone for deprivation of assets aimed at avoiding paying for social care - it would a local authority.
    There are legal ways to protect assets
    This what I was hoping to find info' on.
    This isn’t one of them.

    https://forums.moneysavingexpert.com/discussion/6360031/selling-dads-house#latest
  • bobster2
    bobster2 Posts: 951 Forumite
    Sixth Anniversary 500 Posts Photogenic Name Dropper
    theshed said:
    bobster2 said:
    There are legal ways to protect assets - and there are illegal ways.
    Your "nothing unlawful" comment is a response to the post where I provided this link explaining how deprivation of assets can be a criminal offence...
    It's not the DWP who would pursue someone for deprivation of assets aimed at avoiding paying for social care - it would a local authority.
    There are legal ways to protect assets
    This what I was hoping to find info' on.
    Once someone is elderly there are not many legal options left as it is extremely likely (forseeable) that they will need care in the very near future.
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