How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Clare Your Own Question

Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33537
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
13262538
Type Your Law Question Here...
Clare is online now

If I sign my share of our property over to our daughters while

Resolved Question:

If I sign my share of our property over to our daughters while I am still able to do so, can the state still claim off the property for my old age care? My wife is still living but I have been diagnosed with a disease called Small Vessel Disease which affects my walking and there is no cure for this problem. I am now 72 and reasonably sound minded at present.
Submitted: 2 years ago.
Category: Law
Expert:  Clare replied 2 years ago.
Hi
Thank you for your question.
My name is Clare
I will do my best to help you but I need some further information first.
If it is done at any time for the sole reason of avoiding care home fees then such transactions can simply be disregarded by the Local Authority when making their assessment.
What you can and should so is change the way that house is owned so that you and your wife each "own" your share and them make Wills each leaving your share to the children - so that only half of the house is ever at risk,
Any High Street Solicitor who deals with Wills will be able to assist in this.
Please ask if you need further details
Clare
Customer: replied 2 years ago.

What I really need to know is how can I avoid the state using my half of the property for my full time care in the event of my wife dying before me as my daughters are in full time employment and would not be able to look after me. We both have wills already made out to the girls, but it is the half which can be used is what is worrying me as this is a lot of money which we have worked and saved hard for, for over 40 years. Is there any way that this can be avoided, and also how many years, after I transfer my share to the girls, does it need to be before it is safe from being assessed for care?

Expert:  Clare replied 2 years ago.

Hi If it is transferred purely for that reason then there is no time limit involved. There are various complicated and expensive trust options involved but frankly there effectiveness is uncertain as detailed here http://www.telegraph.co.uk/finance/personalfinance/insurance/longtermcare/10117822/Warning-over-care-home-trust-schemes-that-promise-to-protect-your-property.html I am sorry - but the simple fact is that at present there i sno certain way to achieve this Clare

Customer: replied 2 years ago.

If we sell our present property, and buy another in the names of my daughters, does all your facts in the answer still stand. If not, how would this work?

Expert:  Clare replied 2 years ago.
Hi
That leads you into even more risky territory I am afraid
The property will then form parts of your daughters assets and would be vulnerable to their Divorce; bankruptcy or unexpected early demise - and will expose your daughters to Capital Gains Tax as well
Clare
Clare, Solicitor
Category: Law
Satisfied Customers: 33537
Experience: I have been a solicitor in High Street Practice since 1985 with a wide general experience.
Clare and other Law Specialists are ready to help you

What Customers are Saying:

 
 
 
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
< Previous | Next >
  • Thank you so much for your help. Your answers were really useful and came back so quickly. Great! Maggie
  • A quick response, a succinct and helpful answer in simple English. I believe I can now confront the counter party with confidence -- worth the 30 bucks! Rick
  • Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C.
  • This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex
  • Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP
  • I couldn't be more satisfied! This is the site I will always come to when I need a second opinion. Justin
  • Just let me say that this encounter has been entirely professional and most helpful. I liked that I could ask additional questions and get answered in a very short turn around. Esther
 
 
 

Meet The Experts:

 
 
 
  • Jo C.

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
< Previous | Next >
  • http://ww2.justanswer.com/uploads/EM/emus/2015-7-7_192327_bigstockportraitofconfidentfemale.64x64.jpg Jo C.'s Avatar

    Jo C.

    Barrister

    Satisfied Customers:

    30316
    Over 5 years in practice
  • http://ww2.justanswer.com/uploads/BE/benjones/2015-12-1_0437_ennew.64x64.jpg Ben Jones's Avatar

    Ben Jones

    UK Lawyer

    Satisfied Customers:

    11553
    Qualified Solicitor - Please start your question with 'For Ben Jones'
  • http://ww2.justanswer.com/uploads/BU/Buachaill/2012-5-25_211156_barrister5.64x64.jpg Buachaill's Avatar

    Buachaill

    Barrister

    Satisfied Customers:

    1754
    Barrister 17 years experience
  • http://ww2.justanswer.com/uploads/JO/jojobi/2013-3-19_0265_maxlowryphoto.64x64.jpg Max Lowry's Avatar

    Max Lowry

    Advocate

    Satisfied Customers:

    894
    LLB, 10 years post qualification experience
  • http://ww2.justanswer.com/uploads/UK/UKLawyer/2012-4-12_9849_F2.64x64.jpg UK_Lawyer's Avatar

    UK_Lawyer

    Solicitor

    Satisfied Customers:

    750
    I am a qualified solicitor and an expert in UK law.
  • http://ww2.justanswer.com/uploads/KA/Kasare/kasare.64x64.jpg Kasare's Avatar

    Kasare

    Solicitor

    Satisfied Customers:

    402
    Solicitor, 10 yrs plus experience in civil litigation, employment and family law
  • http://ww2.justanswer.com/uploads/OS/osh/2015-7-7_19268_gettyimagesb.64x64.jpg Joshua's Avatar

    Joshua

    Lawyer

    Satisfied Customers:

    8199
    LL.B (Hons), Higher Prof. Dip. Law & Practice
 
 
 

Related Law Questions