Many of us know someone who has sadly gone into a care home, and that care can be expensive. Equally, many people consider signing ownership of their house over to their children as a way to avoid care fees, however a house gifted to a child can still be taken into account when assessing the ability to pay these fees WebLogic 10.

Where a person needs care, their local authority is likely to look deeply into their financial situation, and a key point will be their history of home ownership editplus 3 다운로드. If a council believes that a house has only been gifted to a child in order to avoid care fees, and if no rental agreement and actual rental payments are in place i.e 자바 가상 머신 다운로드. the parent still owns the house in all but name, they could reverse the transaction and use the house for care fees. Councils consider this ‘deliberate deprivation’, where a person has given away significant assets specifically to avoid care fees.

An example of such a situation would be if a person in their eighties handed ownership of their house to their grown-up children, when the children were already financially comfortable.

If at the time of the move, it was already probable that the person would need care, then suspicion is likely to be even greater.

The same would apply for a large financial gift to another person, if it appears this has only been done for the purpose of avoiding care fees. Giving £2,000 to a child to help pay for their wedding would be understandable; giving £10,000 to a child for no pressing reason, the day after a person was diagnosed with early-stage Alzheimer’s, would arouse suspicion.

Even if no care is required, it is important to remember that once the parent’s house belongs to the child/ren, the latter have legal control over it, and could evict the parent if they were so minded.

As is often the case with large decisions, anyone considering gifting ownership of their house to their children during their lifetime should first take expert legal and financial advice to fully understand all of the potential consequences.

What to do next ?

If you would like to discuss your circumstances with regards to writing a Will, setting up a trust or a lasting power attorney, then please call 0845 689 1495 or get in touch via our secure contact form here .