Putting house into trust - incase ever go into care

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lad i worked with is having some problems getting out of a similar deal. his brother set it up with his mum and now the company that administered it have done a runner so hes in legal no mans land. different strokes for different folks but his most recent advice was that it was debatable whether it would have worked anyway. And the fees were quite high.
 
Fletch said:
some of the council ones are really nice, should be able to protect yourself from having to sell your home IMO anyway
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Give it away to kids. Only problem is if they are married and then subsequently get divorced.
I agree that care fees should be capped.
b1gals said:
Isn't it as simple as selling/giving the deeds to a relative/child so that the older person is simply a tenant ?
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Have to pay commercial rent for the property
 
Fletch said:
anybody done it and does it work ? to stop the council using it to pay for care home fees ?
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I know one lad who did something to avoid paying care home fees for an elderly relative. Let’s just say him and his dodgy solicitor didn't pass go or collect 200 pounds.
 
Thinks it got to be in at least 7 years, even then it isnt rock solid if it looks like you've done it on purpose. My dads was in 1 year before he went into a home and they said he didnt have a leg to stand on. He had enough savings to cover the cost so the house was never touched.
 
Yes it works BUT not if they are going in next week

You need a long term plan and expert advice

See above re 7 years
 
Malloy said:
Thinks it got to be in at least 7 years, even then it isnt rock solid if it looks like you've done it on purpose. My dads was in 1 year before he went into a home and they said he didnt have a leg to stand on. He had enough savings to cover the cost so the house was never touched.
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The seven-year rule relates to inheritance tax. LA determining 'deprivation of assets' is done differently.
 
Fletch said:
anybody done it and does it work ? to stop the council using it to pay for care home fees ?
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IIRC, you can own the house "in-law" so that when either person dies, their share goes to someone else. The cannot make you sell the house if someone else owns 50% of it.
 
Dogbark said:
The seven-year rule relates to inheritance tax. LA determining 'deprivation of assets' is done differently.
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So long as it's done before you knew you had to go into care it should be ok. It's when you found out you had to go into care, or have carers, and you've then given money or assets away that it's considered deprivation of assets.
 
Fletch said:
some of the council ones are really nice, should be able to protect yourself from having to sell your home IMO anyway
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Some are horrible. My Gran was in a council home for respite care when my parents were away. She hated it so much, she managed to escape and walked three miles back to her sheltered accommodation flat in her slippers. When the warden rang to ask why she'd turned up back at her flat, they didn't even know she was missing :eek:

I'd rather have the money and be able to choose where I lived, rather than gamble on where the council put me.
 
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