Sorry! - Want My Own Thread Re My House

[Connemmara]

Hi Barmaid -in August I will have finally paid off my house - it is mine only and I never married but worked from I was 16 for nearly 40 years. I would like my nieces and nephews to get some of it - but if I have to go into care will the care home take all of my house. That is depressing talk!

[ubasses]

If you are unfortunate enough to go into care and you have assets, yes you will have to be self funding. Depending on what your needs are you may get some NHS contribution for nursing care. (£108 per week when my MIL needed it 2 years ago).
Looking to the future new legislation (if it goes through) will limit what you have to pay to £75000.

[Connemmara]

thanks ubasses for your answer - my house will (I think will only be worth £120,000) unless they go up. Don't understand after £75,000 what happens.

[ubasses]

Not sure yet, it is just what I am reading in the papers re future intentions. After that there will be some contribution from Social Services but I do not think it will be everything. We probably will not find out precise details for a while yet. I have been out most of the day so do not know if it was in the Queens Speech today. Sadly my mum is halfway through her house money after 6 years in care.

[Connemmara]

ubasses this is a hypotetical question - but if your mum were to pass away soon - would you get the remains. God I know a friend who bought half of the house with her mother some 8 years ago and is making a fortune renting it her out (mother died 8 years) ago. Something (she has another house) so she would have pay 40 percent tax - I know that is another story - but she has avoided that.

[ubasses]

Yes, when I lose Mum I will inherit anything left in accordance with her Will.
In your friend's case if a good price was paid for the half house and the Mother still had the cash or had spent it (not given it away) that would be Ok, but then the Mother would still have an asset and would be expected to use it to pay her fees. If the rental income along with any other income/savings she has covered the fees, no problem.
If not it becomes a bit difficult, as the daughter did not live in the house as her carer Social Services would fund the care but take a Charge over the property to recoup the money on sale of the property as happened with my Dad's second wife (his widow) when she ran out of money. Again her heirs inherited what remained after the Charge had been settled