Peppercorn Sale

[Myriad2112]

My elderly mother is in the early stages of dementure and I am concerned that if and when it gets worse that social services will forcer her to sell her house to pay for her care. I have been thinking about selling my house and moving in with her but someone has suggested that instead she could sell me her house (which has no mortgage) for a small amount of money to avoid this happening, allowing me to both keep my family home in place and safegaurd hers at the same time. My wife seems to think that some kind of inhertance tax law stopping me from doing this. Can anyone help me with this? Thanks.

[Peter Pedant]

Eddie 51 you little tinker !
I wondered if that would work
or something like it
because the rules give some protection to co-habitees of every persuasion

[woofgang]

PP I have known (in my pre retirement life) this to both work and not work. As I said, the keys seem to be how long the family member takes care for in terms of time, how predictable the need for residential care was when the person moves in, and how unwell the person becomes when the relative or friend gives up.....also of course how skint the LA is at the time..... The "reasonable" and "foreseeable" criteria are very elastic