Parent wants to Sign House over to son Deeds with Land registry

CSI_Yorkshire

ianflying said:

WhEmmia said:

ianflying said:

Thanks for all your comments. What if in 10 years time he needs care ?

At what point will a Council typically not chase his assets, surely there is a cut off !!

At 77, there is an obvious risk of needing care at some point in the not-too-distant future - I don't think there is a cut off, LAs will go back as far as they need as their budgets are finite, with many people calling upon them. 

*Also, does your father want the cheapest possible care, or would he rather end his days in some comfort? His house is the financial means to ensure he gets this.

Thanks what I was hoping for that any care he needs in the future will be topped up by me (his money) as I’m afraid a decent care home costs a fortune and once the money runs out he will be forced into terrible council run care. That was the motivation 

Wouldn't him actually having a house be the best defence against being "forced into terrible council run care"?

elsien

ianflying said:

Thanks for all your comments. What if in 10 years time he needs care ?

At what point will a Council typically not chase his assets, surely there is a cut off !!

 It is not the council chasing his assets. It is him using his assets quite rightly to pay for the roof over his head and the care that he needs if he does need residential care. Which many people don’t.

There are no time limits. It would depend on whether it is foreseeable that he care is likely to need care and also that the purpose of giving the asset away is specifically to avoid care costs. And in this case, it would hard to see any other reason why he would give his assets away. 

elsien

ianflying said:

WhEmmia said:

ianflying said:

Thanks for all your comments. What if in 10 years time he needs care ?

At what point will a Council typically not chase his assets, surely there is a cut off !!

At 77, there is an obvious risk of needing care at some point in the not-too-distant future - I don't think there is a cut off, LAs will go back as far as they need as their budgets are finite, with many people calling upon them. 

*Also, does your father want the cheapest possible care, or would he rather end his days in some comfort? His house is the financial means to ensure he gets this.

Thanks what I was hoping for that any care he needs in the future will be topped up by me (his money) as I’m afraid a decent care home costs a fortune and once the money runs out he will be forced into terrible council run care. That was the motivation 

Generally speaking, there aren’t any council run care homes left. There are private homes which operate at the lower limits, because that is what the local authority will pay for. Some are better than others but there’s no frills and all the extras come at a cost. 

If he’s not self-funding, any third-party top up cannot be paid out of his money, it would have to be paid by other people out of their own funds.
Some care homes will negotiate when people’s money gets down to the 23.5K to allow them to stay where they are. That does depend on whether the care home that’s been chosen is hugely above the local authority rate, or whether it’s close enough for a compromise.

Emmia

ianflying said:

WhEmmia said:

ianflying said:

Thanks for all your comments. What if in 10 years time he needs care ?

At what point will a Council typically not chase his assets, surely there is a cut off !!

At 77, there is an obvious risk of needing care at some point in the not-too-distant future - I don't think there is a cut off, LAs will go back as far as they need as their budgets are finite, with many people calling upon them. 

*Also, does your father want the cheapest possible care, or would he rather end his days in some comfort? His house is the financial means to ensure he gets this.

Thanks what I was hoping for that any care he needs in the future will be topped up by me (his money) as I’m afraid a decent care home costs a fortune and once the money runs out he will be forced into terrible council run care. That was the motivation 

I don't see why your father needs to transfer his house then? If he needs care, his house can be sold at that point to fund it...

But until he needs care, he should carry on enjoying the security of living in the house that he owns, and should not jeopardise that security by transferring it to you.

amnblog

Now we have identified the intention here, this document regarding deprivation of assets may be of value.