The seven years are up

[Roses]

When we purchased our current property seven years ago, we put it in the name of our eldest girl. Yesterday she officially became our landlord. You have to wait seven years, prior to that if you need to go into a care home the house could be sold to cover the fees.

Has anyone else put their home in the name of one of their children?

[ippy]

When we purchased our current property seven years ago, we put it in the name of our eldest girl. Yesterday she officially became our landlord. You have to wait seven years, prior to that if you need to go into a care home the house could be sold to cover the fees.

Has anyone else put their home in the name of one of their children?

First I'm no legal Eagle but I think I saw somewhere that the authorities can step in where they think arrangements have been made to specifically avoid care home fees and make a legal challenge such arrangements.

I have to add terrific if someone can tell me I've got it wrong LR, I'm definitely on your side.

Regards ippy

[Roses]

First I'm no legal Eagle but I think I saw somewhere that the authorities can step in where they think arrangements have been made to specifically avoid care home fees and make a legal challenge such arrangements.

I have to add terrific if someone can tell me I've got it wrong LR, I'm definitely on your side.

Regards ippy

That is why you have to wait seven years according to our solicitor, then it becomes the property of the person in whose name it is registered. Our daughter did put some of her own money into the purchase of the property.

[Robbie]

Sounds like a good idea, Littleroses.  My parents and my in laws both gave their children their houses - like your daughter, we had to wait a few years (I didn't remember it being seven), but weren't in any hurry, still not - obviously they would be able to live in their homes for as long as they wanted to.

It made things easy when my dad died in March this year. My sister and I already owned his house though we hadn't wanted to think about that.

Certainly something to consider in the future.

[jeremyp]

Sounds like a good idea, Littleroses.  My parents and my in laws both gave their children their houses - like your daughter, we had to wait a few years (I didn't remember it being seven), but weren't in any hurry, still not - obviously they would be able to live in their homes for as long as they wanted to.

It made things easy when my dad died in March this year. My sister and I already owned his house though we hadn't wanted to think about that.

Certainly something to consider in the future.

You have to be really careful about that. LR has consulted a solicitor which is an excellent idea.

[Robbie]

Oh yes of course I'd have a solicitor to draw it all up properly but no intention of doing that at the moment.

[Roses]

It is very important to employ a solicitor for anything of a legal nature including a will, it is too easy to miss something important if you don't.

Another thing which is important to sort out whilst one has all one's marbles is Power of Attorney. My husband and I had always considered getting it done, but at the time it didn't seem a priority. Then he had a brain haemorrhage, which trashed half his brain in 2006. As soon as that happened I  arranged that my daughters had POA where I was concerned if it became necessary. As soon as my husband was able to function again, a psychologist friend of ours certified that he was able to understand well enough to give his permission for me to have POA in his case. I don't use it very often but it has come in useful several times.

[jeremyp]

It is very important to employ a solicitor for anything of a legal nature including a will, it is too easy to miss something important if you don't.

More importantly, they can tell you if what you are doing is illegal. For example, are you paying rent to your daughter? If not, it might land you in some trouble if, unfortunately, the time comes where you have to go into care.

Another thing which is important to sort out whilst one has all one's marbles is Power of Attorney. My husband and I had always considered getting it done, but at the time it didn't seem a priority. Then he had a brain haemorrhage, which trashed half his brain in 2006. As soon as that happened I  arranged that my daughters had POA where I was concerned if it became necessary. As soon as my husband was able to function again, a psychologist friend of ours certified that he was able to understand well enough to give his permission for me to have POA in his case. I don't use it very often but it has come in useful several times.

I can't emphasise enough how important this advice is, because once you have lost your marbles, your relatives are in a nasty situation if they do not have PofA because you are no longer considered competent to sign such an important agreement.

[Roses]

More importantly, they can tell you if what you are doing is illegal. For example, are you paying rent to your daughter? If not, it might land you in some trouble if, unfortunately, the time comes where you have to go into care.

I can't emphasise enough how important this advice is, because once you have lost your marbles, your relatives are in a nasty situation if they do not have PofA because you are no longer considered competent to sign such an important agreement.

We pay her rent.

[ippy]

That is why you have to wait seven years according to our solicitor, then it becomes the property of the person in whose name it is registered. Our daughter did put some of her own money into the purchase of the property.

We have a similar family situation and I have read some of the paperwork I distinctly remember reading about situations where the authorities can even with your seven years period they can still have a claim for retirement home expenses where they have reason to believe the change of ownership was a part of an attempt to avoid paying care home fees and this can extend beyond  the seven years but I suppose these laws may well differ in Wales.

I'll be delighted if it works for you when changing ownership L R, but this is how it is under the Essex C C.

ippy

[Roses]

Fortunately for us we probably have more than enough money in savings, premium bonds etc to pay care homes fees without having to sell our property for that purpose.

[Robbie]

That's a relief.

[ippy]

Fortunately for us we probably have more than enough money in savings, premium bonds etc to pay care homes fees without having to sell our property for that purpose.

Funny you should say that about your savings L R and bonds etc,when the poor old cat has died we've had a house flood and lost a lot of our possessions our dog has to have an expensive operation we might have to sell her as a way out, I can't see my way through all of these very serious problems it's very depressing but I suppose I'll manage......

Kind regards ippy