Transferring Title Deeds

[Islandlad]

I would really appreciate some advice on how best to go about this and avoid future problems.
My Step-Dad is in hospital and is concerned that his house (mum died 1995) could be grabbed by the authorities if he ends up needing professional care. The value is around �250.00. He wants to transfer the ownwership to me, it is mortgage free cos i paid it off for them in the 70's. Is there a pain less way to do this and can he sign the necessary docs in hospital, he has all his marbles..Do we have to show a monetary payment on the doc's ie, �1.00 or? Thanks ..(property is registered)

[redcrx]

i think that the government frown upon people who deliberately pass on assets to avoid paying for their care so you could be in bother if you try to do this now.

Is he likely to end up in permanent care? Can you not sell the house and try and invest the funds to get the majority of his care paid for by interest on that money?

[Ethel]

http://www.fundingcaring.co.uk/giving-away-ass ets-to-avoid-paying-for-care.html

As well as the threat of the council clawing back the money, if your step-dad is relying on council-approved care at council's expense his choice of care will be limited and may not be up to the standards neither he nor his family would want.

The local authority has no money - it is tax payers money, that is why they are beholden to try to stop one person benefiting at the expense of others.

[Sammy Snake]

Why should the tax payers pay for your step-father to live in a residential home when he has the means to pay for it himself?

It sounds l;ike you are more concerned that you inheritance may vanish...

[Islandlad]

Thanks for your response...Sorry, I got off on the wrong foot here; the idea was his not mine and I am seeking answers. I shouild have mentioned that Dad has quite a healthy income from various investments and we presumed that if care becomes necessary "beyond our ability" this is what would be looked at first.....Years ago I paid off 80 plus percent of the reamaing mortgage and I guess it's just his way of safe guarding my interest which naturally I am pleased about...We would avoid even suggesting a nursing home unless it became absolutely necessary. We thought about getting him a ground floor flat next to us so that we could take care of what we can, and take him weekends for visits to the house for family get together. ..

[bednobs]

TBH you have left it rather late. If he is looking at maybe needing care in the near future, you should have protected your investment years ago. Despite the fact you paid the mortgage, the assest is his i presume. The authorities wil see it as him deliberately depriving himself of an assest in order to gain an advantage (IE someone else paying for his care, not him) I think you can give property and such away but if it is then needed to pay for care within 7 years, it can still be sold. You might want to consult a solicitor over this, which will rpobably be the best idea. If he is likely to srvive for a longer time, you might want to think abut IHT as well, as it must be galling to pay IHT on something you already paid for!.
You say his property might be "grabbed" but this is the wrong words - it is looked at that its just using his assets to pay for the care he needs (could be up to �1000 pw depending on what he choses) - as said before why should all of us pay for that in order that you become richer when he dies?

[Islandlad]

Many thanks "bednobs", and Ethel's input and link most helpful..Much more helpful than the appropriately named pre-judgemental "Sammy Snake"....."Honi soit qui mal y pense"!!!..It's ironical that my generosity of paying off a mortgage (more than 80 percent ) will be rewarded this way...A lesson,,If my son ever decides to buy me a house, fair is fair, I will insist it is in his name and trust him to allow me to remain until whatever...have to trust someone...Best...