IHT Query

In message , Trevor writes

No.

A 'Will Trust' is created on death. They wont need any care then.

So is there another 'way'.

(re)Mortgage the property and spend the money.

tim

In message , Trevor writes

Im not sure what you mean/ Do you mean 'Is there a way of sending my parents to a crap council home instead of them befitting from the asset they have in their house so that they can pay to go into a decent place?'?

John not all council homes are crap - far from it they have the resources ie our council taxes to get up the Government standards that many private homes cannot possible attain. Where I live if I had a choice for my parents a council run one would come first every time.

If that were the choices on it offer it might be an OK thing to do.

But I'll think you'll find that the pay for yourself place is no better than the one the LA pay for

tim

Bitstring , from the wonderful person "tim (moved to sweden)" said

Many times it turns out to be the =same place=, with some people paying and some being paid for. The choice comes in that, armed with your own money, you =could= go off and die in the sun somewhere, or even flee to a country with better provision for the elderly, or where hiring help is easier .. not an option if government funded.

In message , Eric Jones writes

Fair enough. Sadly, that does not apply where I live or where my father lived.

In fact, I know of no 'Council' run homes, and I am surprised that your local council does so. IME local councils dont 'run' on a free of charge basis any 'care' or 'rest' homes.

By ''council home' I meant one where the council would pay all the fees so in fact everybody ends up in a private home but the fees are paid for in part by the council. There is a huge variance in quality between those whose fees are covered by council payments and those that are not.

Sadly, price inflation for care/rest homes is high and I still stand by my theory that for a decent home extra cash needs to be provided. The domestic house is the only major asset for many people, especially the elderly, and that asset has been waiting for use for a rainy day.

The entry to a home is that rainy day.

Trying to preserve that asset merely for the sole benefit of the heirs to the estate, at the expense of their parents comfort and well-being, is repulsive to my mind.

In message , "tim (moved to sweden)" writes

On behalf of somebody else I am currently searching the market for such a place at this very moment and I disagree with you completely. A home that would be suitable for any acquaintance or relative of mine is just not available at the rates that the local authority will pay.

Sadly, this is the third time I have had to conduct this exercise for parent/relative/close friends in three different locations and my view subsists for each incidence. Very sad.

Hey it's them thats asking me.

My experience of this (for my fatehr) was that there was a huge variation of care standards in these places even among establishments run by the same umbrella organisation with identical fees. The ability to chop and change at will was crucial in my case. However, the fees are huge though (up to £100/day in some places) .

Robert

yes you can my friend is having one done

marion

In message , marion philpott writes

But the trust isnt created until death.

Mortgage the property and put the proceeds into a life company bond - life assurance contracts are not taken into account when assessing care home eligibility.