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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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I am thinking about buying a property for my elderly parents.

Customer Question

I am thinking about buying a property for my elderly parents. If I buy it in their names they will get the rates paid for them however I am concerned if this is only left to me in their will that should the need for them to go into care arise they will be forced to sell the property to pay for it and I will lose my money. They also have a property to sell but it could take a long time before it is sold.
Can you offer the best solution which would suit my parents and myself financially. I have also thought about putting the house in my children's name so they would inherit on their death
Submitted: 3 years ago.
Category: Law
Expert:  Ash replied 3 years ago.

Alex Watts :

Hello my name is Alex and I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return. There is no need to wait here, you will get an email when I reply.

Alex Watts :

Will the property be mortgage free please?

JACUSTOMER-xsu9oslm- : Yes it will I intend to buy from my savings
Alex Watts :

Ok - there is no reason why it can not be in your name.

Alex Watts :

Your parents would be entitled to any Council Tax benefit in any event (rates) as this is nothing to do with who owns the property.

Alex Watts :

That way it is kept in your name and you have no risk of any liability in terms of care home fees

Alex Watts :

They will not need Housing Benefit as there is no rent / mortgage to pay

Alex Watts :

So it is only Council Tax benefit which they would be entitled to in the normal way

Alex Watts :

Can I clarify anything for you about this today please?

Alex Watts :

If this answers your question could I invite you leave feedback on my service which I hope has been excellent today, if you need more information or help then please click reply.

Please remember that I am always happy to help if you have future questions, even if I am in Court I can normally respond within a few hours. For future information, please start them with ‘For Alex W’.

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