Tax was one reason but I am worried that if either of us have to go into care as some point, our house will be taken and sold. I understand that care is in a bad place financially at the moment but we have worked hard and paid tax so I would like our house and to go to our children.
oh
right
then you need completely different advice
instead of : Instead of waiting for me and OH to die, is there any legal way we can leave our house to our sons while we are still alive? TIA
it should have been
is there any way we can transfer our house to our sons while we are still alive? - and avoid charges for care homes ?
there are all sorts of ways to legally transfer property - but it has to have the right tax / charge effect
and we can do the whole thing again
My view is that you can't - but I may well be wrong. The chance of me becoming demented or long term ill or needing prolonged care is nil. ( cancer in remission but not cured)
If it is to avoid care fees then that is deprivation of capital and you would be treated as having the capital still.
However, I can say that only because you have telt us that is the reason. If you do need care, the council would look at the reasons for the sale and whether it was reasonable for you to know you would need care.
If the sale were made twenty years before going into a care home, could they show you knew you would need care twenty years down the road?