Change to Will, possible Deprivation of assets or other implications

arthur_fowler

Thanks everyone for your very helpful responses. I now have more clarity to have a valuable conversation with both of their children (who thankfully have a good relationship with each other).

msb1234

arthur_fowler said:

bobster2 said:

arthur_fowler said:

Thanks for your considered reply. I agree about the difficult conversations and as their children aren't that concerned about the money (they would rather it went to family rather than council or government tax), it may not be appropriate to go down that route.

Money that is used to fund someone's care does not "go to the council". It funds their care. The council could be involved in making the arrangements - but ultimately the money is being used for their benefit.

The idea would be that if MiL outlives FiL, when her own money runs down from the sale of their house, funding her ongoing care home would then be funded by social services. 

Ah, now we get to the crux of the matter! 

Firstly, whoever has financial LPA for the wife has to act in her best interests financially - so would expect to ensure she receives a fair share of their assets. Secondly, are you ok with her potentially running out of money to self fund then have to be moved to a different LA funded care home? Because that’s often the reality, especially with LAs being as cash strapped as they are. 

It seems that between them, they have assets of around £400k. More than enough to buy each of them a good 4 years in a care home. 

RAS

arthur_fowler said:

bobster2 said:

arthur_fowler said:

Thanks for your considered reply. I agree about the difficult conversations and as their children aren't that concerned about the money (they would rather it went to family rather than council or government tax), it may not be appropriate to go down that route.

Money that is used to fund someone's care does not "go to the council". It funds their care. The council could be involved in making the arrangements - but ultimately the money is being used for their benefit.

The idea would be that if MiL outlives FiL, when her own money runs down from the sale of their house, funding her ongoing care home would then be funded by social services. 

By definition this would be deprivation of assets.

I'd also expect whoever has power of attorney to make a claim under the Inheritance Act. And any attorney who didn't do so within the time limit would not be acting in MIL's best interests, so should not be in that role.

pollypenny

msb1234 said:

arthur_fowler said:

bobster2 said:

arthur_fowler said:

Thanks for your considered reply. I agree about the difficult conversations and as their children aren't that concerned about the money (they would rather it went to family rather than council or government tax), it may not be appropriate to go down that route.

Money that is used to fund someone's care does not "go to the council". It funds their care. The council could be involved in making the arrangements - but ultimately the money is being used for their benefit.

The idea would be that if MiL outlives FiL, when her own money runs down from the sale of their house, funding her ongoing care home would then be funded by social services. 

Ah, now we get to the crux of the matter! 

Firstly, whoever has financial LPA for the wife has to act in her best interests financially - so would expect to ensure she receives a fair share of their assets. Secondly, are you ok with her potentially running out of money to self fund then have to be moved to a different LA funded care home? Because that’s often the reality, especially with LAs being as cash strapped as they are. 

It seems that between them, they have assets of around £400k. More than enough to buy each of them a good 4 years in a care home. 

It looks very much as if the family want us, the taxpayers, to pay for the in-laws care in spite of saying that neither is likely to live very long. 

Let their money be used to buy them the best care, in a lovely care home, for their remaining years. 

Going by OP, there will be something left to inherit anyway. 

sheramber

It is sad that money comes before the best care fir your parent.

arthur_fowler

sheramber said:

It is sad that money comes before the best care fir your parent.

No it doesn't

arthur_fowler

Thanks everyone. The idea was only a vague idea and won't be progressed.