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Old 17-12-2014, 21:49   #1
Donkey Dave
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Parent Signing House Over.

As my mum is getting older and sadly her memory is deteriorating it may be time soon to think about selling her house and her going into a home. Anyhow years ago you could get your parents to sign the house over to a son/daughter, to avoid the sale of the house going towards paying towards the care home, but I believe this is not the case any more. Has anyone had any recent experience of this, or could anyone offer any advice?
Thanks In Advance.
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Old 17-12-2014, 23:56   #2
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For Tax and inheritence purposes then your mum would have to live 7 years after the house changes hand for you to not pay tax on it if her estate is above inheritence level.

Dont know how that would work with a care home but if care is provided at home and carers visit then over a certain amount of savings you have to pay it all and if you have no savings then the council picks up the tab I think.
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Old 18-12-2014, 08:01   #3
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These days you don't have to sell the house straight away, but the local authority will effectively bill the estate for the care fees when the person dies.

As for avoiding these, if your mum will need to go into any sort of assisted living facility in the 6 to 12 months after any asset transfer you have no chance. A longer gap could help, but a council still has the power to seek payment from an estate if it can prove any avoidance has taken place for an indefinite period.
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Old 18-12-2014, 20:06   #4
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Ok, thanks for the advice.
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