residential homes financed by our inheritance can anyone help?

Question

We have 2 aunts that live in London and own there own home ,neither have ever been married or have direct family ,it was always said that when they die the house would be sold and split between my husband and his sister.,who are there neice /nephew.Now it looks as if they will both go into residential homes at there choice .What happens to the house and any money they both have .We only want the best care for them but also dont want everything to go to the residential home. Any help appreciated

Answer 1

each residential home has different rules......we recently put our grandmother in a home....in order to get her in....we had to sell her property of which they took a large portion of....they hold that deposit for 5 years as a minimum and if she is still alive (shes is 94) hold it until death.....the money is then returned to the family...they receive all of her pension and medical expenses are an addition......i have heard of other homes that take a heap of money and keep it never returned regardless as to how long they are in their care.......you will need to find out more from the particular home your aunt has chosen.....i suppose at the end of the day dont count your chickens before they are hatched....you may never receive any money from her estate.....

Answer 2

Unfortunately the houses will have to be sold to pay for the residential care as they will be seen as an asset.Why not suggest you take an active part in their care or suggest home care which is much cheaper and home carers also do overnight sits so more or less they can have the same care that a residential home could provide but keep the family home safe from being ate up very expensive care bills.

Answer 3

First of all remember that your husbands aunts have a right to do with their property what they wish. However if they really do want to leave the house to your husband and his sister then they can sign the house over to them. I think it's called a gift of deed.
I also have a feeling that it needs to have been in place for 5 years. My mum was given her father's house in this way. There are some limits to it for example she can't sell the house until my grandad dies or the money is his, he can sell the house if he wants, and can use the money to live somewhere else, but the house cannot be taken to pay for his care.

I hope this helps, I suggest the aunts and your husband contact a solicitor.

Answer 4

Get in touch with your local Social Services (older people's team). They will probably do an assessment of the entire financial situation, taking into account the house value. Residential care is expensive. Have they considered having a care agency come in at key points during the day (SS will have details of agencies in the area)? That way they can stay in their own home.

Answer 5

I think their care comes first ,even if it does take all their money ,they earned it it`s up to them how they want to spend it ,
Have you all been looking after them, as an ex carer I used to be amazed how many relatives turned up when they were on their death beds ,people they hadn`t seen for years,not saying that you are like this ,why don`t you all go to the house and take over caring for them,that way you may be able to save a little ,good luck

Answer 6

Sorry but if it is needed to pay for their care it will all be spent. Nothing you can do about it. Especially as you are a niece and nephew!!!
Is your mother or farther alive? Because they will inherit anything that is left being next of kin! unless a will mentions otherwise.

I find it weird how people are obsessed with the money they are going to get, rather than the person is looked after properly!!!

Answer 7

If they have enough savings to fund their care without selling the house then you should be ok. If not then the house will have to be sold to finance their care. To get round this the house would have to be signed over to your husband and his sister sooner.

Answer 8

The impression i have is that it depends on which local authority
area they live in. I think policies wary from place to place. Try Age Concern's website-they also have branches in London,they should be able to give you independent advise.Good luck.
http://www.ageconcern.org.uk/

Answer 9

my dad was in a home 3 years ago, but i didn't have that problem as he didn't own his own home, but they did tell me that if he did have his own home, it would have to be sold, and my dad would be allowed £18,000 for himself and the rest would have to go to the home, whether or not its altered since then i don't know, but that was the situation 3 years ago. good luck

Answer 10

they could sigh house over now as deed of gift but i think you have to pay a lot of tax