How to protect my property being sold to pay care home fees if needed.

jem16

Sea_Shell said:

I always wonder what the adult children's opinion is on these matters.

Most comments I've read (here and elsewhere), the adult children want their parents to receive THE BEST CARE, and aren't actually pushing to get THEIR inheritance.

Yet, at the same time, the parents feel adamant that they should get it, and should be ENTITLED to it.  

So I'd suggest sitting down with your children and discussing this, and see what THEY want to happen.   

This is exactly the problem I faced with my parents, or to be more precise my mother. She was adamant that her house should not be used for her care as they’d worked hard for it and wanted it to be passed on. She actually had totally the wrong idea as she thought the council took your house if you went into care and even if you died the very next day all the proceeds of the house were lost.

My parents, mostly at the insistence of my mother, then made their wills leaving half the house in trust to my brother and i on first death with the remaining spouse given lifelong beneficial interest to continue living there. My brother and I had no real say in the matter.

i continually told them I wanted their money to go towards their care if it was needed. As it turned out, my mother developed dementia and after two years of managing it at home, it became unsafe for both her and my father for her to remain at home. She was in a care home for around three months before she died, self funding of course. Dad remained at home still with my help and that of carers for the last few months of his life.

Pollycat

Rexey said:

Hi I am looking at how to protect our hard earnt money from being taken by the government if as we get older we need to go into a care home.   I have read to protect my childrens inheritance I can add them to our property as tenants in common - is this the best way to do this.

Seek legal advice.
I'm sure there'll be some company who'll be willing to help you protect your hard earned money so that other people who've also worked hard for their money will contribute towards your care.

FlorayG

Rexey said:

Hi I am looking at how to protect our hard earnt money from being taken by the government if as we get older we need to go into a care home.   I have read to protect my childrens inheritance I can add them to our property as tenants in common - is this the best way to do this.

BTW, your 'hard earnt money' isn't going to be 'taken by the government' if you go into a care home. It's going to be taken by the care home to pay for your care, just the same as if you check into a hotel the hotel will expect to be paid for the care they give you while you are there
(I think the OP will not be back to comment on this thread, but hope we have given them some things to ponder)

Silvertabby

Pollycat said:

Rexey said:

Hi I am looking at how to protect our hard earnt money from being taken by the government if as we get older we need to go into a care home.   I have read to protect my childrens inheritance I can add them to our property as tenants in common - is this the best way to do this.

Seek legal advice.
I'm sure there'll be some company who'll be willing to help you protect your hard earned money so that other people who've also worked hard for their money will contribute towards your care.

......while trousering a substantial amount of your hard earned money in the form of 'legal fees'.

Savvy_Sue

Silvertabby said:

Pollycat said:

Rexey said:

Hi I am looking at how to protect our hard earnt money from being taken by the government if as we get older we need to go into a care home.   I have read to protect my childrens inheritance I can add them to our property as tenants in common - is this the best way to do this.

Seek legal advice.
I'm sure there'll be some company who'll be willing to help you protect your hard earned money so that other people who've also worked hard for their money will contribute towards your care.

......while trousering a substantial amount of your hard earned money in the form of 'legal fees'.

Not to mention causing many many unforeseen problems in the future if they go out of business; their bright ideas fail to work; you actually WANT to sell your property (perhaps to move to more suitable accommodation). 

pollypenny

If you move into a care home it becomes your home.  When you move house, ie to a new home, do you expect to keep the other home?  

The government do not TAKE anything.  You spend your 'hard earned' assets on your old age.   

I don't want to pay for you. 

Stubod

Rexey said:

Hi I am looking at how to protect our hard earnt money from being taken by the government if as we get older we need to go into a care home.   I have read to protect my childrens inheritance I can add them to our property as tenants in common - is this the best way to do this.

..no reply from the OP..must have gone to ground ???

Pollycat

pollypenny said:

If you move into a care home it becomes your home.  When you move house, ie to a new home, do you expect to keep the other home?  

The government do not TAKE anything.  You spend your 'hard earned' assets on your old age.   

I don't want to pay for you. 

My Dad paid for his own care (self funding).
He didn't want anyone else to pay for his care.
He would have been horrified if anybody has suggested it to him.
We wanted him to go into a decent care home - and he did.
As it turned out, he was only in there for a couple of months before he died.

poseidon1

Stubod said:

Rexey said:

Hi I am looking at how to protect our hard earnt money from being taken by the government if as we get older we need to go into a care home.   I have read to protect my childrens inheritance I can add them to our property as tenants in common - is this the best way to do this.

..no reply from the OP..must have gone to ground ???

Unsurprisingly, newbies seem to be under the mistaken impression that their odd views re who should be  financing their care home fees would find a sympathetic ear on MSE forums. 

Can be a bit of a shock to the system, when they find this to be very far from the case. As is often the case, this will probably be the first and last time we will hear from this particular OP.

boingy

Stubod said:

Rexey said:

Hi I am looking at how to protect our hard earnt money from being taken by the government if as we get older we need to go into a care home.   I have read to protect my childrens inheritance I can add them to our property as tenants in common - is this the best way to do this.

..no reply from the OP..must have gone to ground ???

Hardly surprising given the "pile on" mob we always see to this sort of question. Sometimes this is not a very welcoming forum imo.