When my father was diagnosed with dementia it was quite advanced. he quickly became unable to deal with his own finances so we went to a solicitor who arranged for us to have Power of Attorney. (That was about 5 years ago). Then 2 years ago with my fathers agreement the house was signed over to my brother and I as it made it much simpler for us to deal with things like insurance and utilities. as part of the transfer my father was given guaranteed residence at the property and could not move without his consent. as his condition has deteriorated he needs to move and has given his consent hence the house being sold to pay for a warden assisted retirement flat which again my brother and i will own using the money from the house sale.
Hi. Will the response come through tonight or in the next couple of days as if not tonight I will log off and look tomorrow
Hi. The house is being sold for £220k of which £100k is being spent on the flat. Over the last 2 years the house has probably depreciated in value as basically everything is wearing out and needs refurbishing. Also we have the solicitors fees for the sale and purchase of about £2000 which my brother and i are paying as it is our house. So on that basis it looks like there is probably no CGT risk if I have understood correctly. My fathers savings only amount to £3k so we are well below the inheritance tax threshold.