Peps & Joint names

dlcs

Hi

Hope someone can help, I'm not up on all the terminology but the situation is-

My grandparents had some money to invest approx 20 years ago when they built and sold a house, they were recommended to invest it in a 'PEP' but only in my grandads name, now that my grandad is in a nursing home full time with parkinsons disease they decided to withdrawal the money and put it in their joint account so my nan could have access to pay bills etc.

She has also recently changed her will so that her half share goes to her children rather than to my grandad as he is unable to do anything with it.

After a recent assessment of their financial situation to work out how much my grandad has to pay towards his care, my nan has been told that she can't touch a penny of the funds transferred from the pep as it was in my grandads name, even though 20 years ago it was both of theirs!!

Have they been given the correct advice as my gran is deeply upset that she won't be able to leave her children the money she worked for all those years and it will all go to nursing costs?

Many thanks