Tax considerations - selling house, buying two flats, daughter with learning difficulties

JLRetired

JGB1955 said:

JLRetired said:

 the plan is to buy two flats in a retirement 'court', one for the daughter (who will be supported longer-term by siblings). 

This just screams out at me.  How old is the daughter? how old are the siblings?  Are they REALLY happy to support their sibling for 10/15/20/25/30/35/40 years? Can you be sure they can sustain it for life? If so, they are real saints.  I'm not sure that that's a burden I would want to plant on my other children. I would rather sort out alternative arrangements now.

JGB1955 said:

JLRetired said:

 the plan is to buy two flats in a retirement 'court', one for the daughter (who will be supported longer-term by siblings). 

This just screams out at me.  How old is the daughter? how old are the siblings?  Are they REALLY happy to support their sibling for 10/15/20/25/30/35/40 years? Can you be sure they can sustain it for life? If so, they are real saints.  I'm not sure that that's a burden I would want to plant on my other children. I would rather sort out alternative arrangements now.

JGB1955 said:

JLRetired said:

 the plan is to buy two flats in a retirement 'court', one for the daughter (who will be supported longer-term by siblings). 

This just screams out at me.  How old is the daughter? how old are the siblings?  Are they REALLY happy to support their sibling for 10/15/20/25/30/35/40 years? Can you be sure they can sustain it for life? If so, they are real saints.  I'm not sure that that's a burden I would want to plant on my other children. I would rather sort out alternative arrangements now.

The daughter is 65. She has never had an assessment of her needs, she has been able to live a full life, including holding down a simple part-time job supported by her parents. Some sort of assessment is needed to ensure she receives the support she needs in future years but where to start? The siblings, of which I am one, already support her alongside supporting our parents.

elsien

Local authority care act needs assessment would be her starting point. The website should have information about how to start the process off at the appropriate time. It will depend on whether she has eligible needs.

It’s the process that the parents would use as well if they get to the point of needing more support themselves.

https://www.ageuk.org.uk/information-advice/care/arranging-care/care-needs-assessment/

Once the assessment is complete who  provides the care and who pays for it depends on the outcome of the financial assessment. From what you’ve said it seems likely that they would be self funders. Age UK has a number of fact sheets that they might find useful.

JLRetired

elsien said:

Local authority care act needs assessment would be her starting point. The website should have information about how to start the process off at the appropriate time. It will depend on whether she has eligible needs.

It’s the process that the parents would use as well if they get to the point of needing more support themselves.

https://www.ageuk.org.uk/information-advice/care/arranging-care/care-needs-assessment/

Once the assessment is complete who  provides the care and who pays for it depends on the outcome of the financial assessment. From what you’ve said it seems likely that they would be self funders. Age UK has a number of fact sheets that they might find useful.

elsien said:

Local authority care act needs assessment would be her starting point. The website should have information about how to start the process off at the appropriate time. It will depend on whether she has eligible needs.

It’s the process that the parents would use as well if they get to the point of needing more support themselves.

https://www.ageuk.org.uk/information-advice/care/arranging-care/care-needs-assessment/

Once the assessment is complete who  provides the care and who pays for it depends on the outcome of the financial assessment. From what you’ve said it seems likely that they would be self funders. Age UK has a number of fact sheets that they might find useful.

Thank you, that is helpful. The mother has dementia and receives full Attendance Allowance, the father does not qualify for anything. Yes, they are self-funders.

Singlemummy_2

Would look at getting the daughter a care assessment- ask social services - they can help with such decisions 

does the daughter have capacity to own her own home - have a look  at putting the flat for her in trust as opposed to her owning it, I believe it’s protected more thus way