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

theshed

Keep_pedalling said:

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...

https://www.ramsdens.co.uk/blog/is-deprivation-of-assets-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

Circumstances have changed since then but thanks for finding.
How do you do that ?
I clicked on my messages but could not locate !

uknick

theshed said:

Keep_pedalling said:

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...

https://www.ramsdens.co.uk/blog/is-deprivation-of-assets-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

Circumstances have changed since then but thanks for finding.
How do you do that ?
I clicked on my messages but could not locate !

Click on your user name, click discussions and scroll down the page.

Pennylane

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...

https://www.ramsdens.co.uk/blog/is-deprivation-of-assets-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.

So if you know, why are you asking questions? Go ahead and do it if you know the answers.

Malthusian

theshed said:

There is nothing unlawful about trying to protect assets. 

That is because "protect assets" means literally nothing. For something to be "lawful" or "unlawful" it has to be a specific action. 
As an example, taking out an "immediate needs annuity" to limit the maximum cost to your estate of your care (at the cost of probably losing money to the insurer) would be a perfectly lawful way to "protect assets". Trying to hide money from the authorities and claim local authority assistance would be an unlawful way 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.

If you think that the DWP's website is dropping hints about some sort of super-secret-squirrel way of making the Government pay your living costs even though you have the money to pay for them yourself (in excess of the statutory thresholds), but not actually telling people what it is, so that they have to go and ask random people on the Internet until they find someone who knows this one weird trick, you have misinterpreted it.
There are no secret loopholes to make the Government subsidise your inheritance. Let alone loopholes that the Government would admit the existence of on a Government website, without telling people what they are. If these loopholes existed you would be able to look them up on legislation.gov.uk for starters.
If you tell people exactly which part of the DWP website you are looking at, they may be able to help clarify it.

theshed

Pennylane said:

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...

https://www.ramsdens.co.uk/blog/is-deprivation-of-assets-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.

So if you know, why are you asking questions? Go ahead and do it if you know the answers.

Thank you for your considered and informative answer. 😁

theshed

Malthusian said:

theshed said:

There is nothing unlawful about trying to protect assets. 

That is because "protect assets" means literally nothing. For something to be "lawful" or "unlawful" it has to be a specific action. 
As an example, taking out an "immediate needs annuity" to limit the maximum cost to your estate of your care (at the cost of probably losing money to the insurer) would be a perfectly lawful way to "protect assets". Trying to hide money from the authorities and claim local authority assistance would be an unlawful way 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.

If you think that the DWP's website is dropping hints about some sort of super-secret-squirrel way of making the Government pay your living costs even though you have the money to pay for them yourself (in excess of the statutory thresholds), but not actually telling people what it is, so that they have to go and ask random people on the Internet until they find someone who knows this one weird trick, you have misinterpreted it.
There are no secret loopholes to make the Government subsidise your inheritance. Let alone loopholes that the Government would admit the existence of on a Government website, without telling people what they are. If these loopholes existed you would be able to look them up on legislation.gov.uk for starters.
If you tell people exactly which part of the DWP website you are looking at, they may be able to help clarify it.

You know that started as a reasonable response before descending into gibberish.
Thanks for your effort. 

Pennylane

theshed said:

Pennylane said:

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...

https://www.ramsdens.co.uk/blog/is-deprivation-of-assets-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.

So if you know, why are you asking questions? Go ahead and do it if you know the answers.

Thank you for your considered and informative answer. 😁

No problemo! 🤣

p00hsticks

theshed said:

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 ?

Probably yes, if it is cheaper.
With little consideration given as to how it may affect the resident, or whether it is close to or convenient for relatives.   
The option that some of those frequenting these boards refer to as 'over my dead body grange'. 
 

Keep_pedalling

p00hsticks said:

theshed said:

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 ?

Probably yes, if it is cheaper.
With little consideration given as to how it may affect the resident, or whether it is close to or convenient for relatives.   
The option that some of those frequenting these boards refer to as 'over my dead body grange'. 
 

£100k does not afford the luxury of choosing any care hope you wish without that danger, however as long as you chose one that takes LA funded clients as well as private ones that is unlikely to be the case.

When I first started looking round care homes for my mother I found a great one that had a small number of places for LA funded clients but as she was relying on LA funding from day one I could not get her a place there when she had to be discharged from hospital to a care home. Had she had the resources to self fund for a couple of years then I could have got a placement there several months before it came round to an emergency placement.

Mojisola

Keep_pedalling said:

Had she had the resources to self fund for a couple of years then I could have got a placement there several months before it came round to an emergency placement.

I had a similar experience with Dad - the council were willing to fund four visits a day at his home - the ward sister and the OTs said he needed 24-hour supervision.  They said he would be back in A&E because of a fall within days if he was sent home.  He was stuck in a hospital bed while they argued back and forth.
Dad needed a deferred payment scheme from the council to become properly self-funding but, in the end, we signed the paperwork with the home and moved him out to a home.  He had deteriorated while stuck in the hospital and we couldn't watch him decline further.