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Clare, Solicitor
Category: Law
Satisfied Customers: 35044
Experience:  I have been a solicitor in High Street Practice since 1985 with a wide general experience.
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If I sign my share of our property over to our daughters while

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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.
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
Customer: replied 4 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?

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 I am sorry - but the simple fact is that at present there i sno certain way to achieve this Clare

Customer: replied 4 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?

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 and other Law Specialists are ready to help you