News3 mins ago
Have you made a will?
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You'll be surprised how many people haven't made one. My parents, for example.
My Grandfather made one, but forgot to sign it. My nan had a right ordeal when he died.
My Grandfather made one, but forgot to sign it. My nan had a right ordeal when he died.
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We made ours last month and also set up Power of Attorneys.
Though sometimes, I do think its a waste of time and money. Obviously since going through the stress of putting my Mum in a Care Home, I have been told that my Mum & Dad's Will is worthless, as their property will go towards paying my Mum's Care Home bill when they pass on.
I don't have a problem with this - but it does make a mockery of making a will as this seems to override any requests the deceased has made.
Though sometimes, I do think its a waste of time and money. Obviously since going through the stress of putting my Mum in a Care Home, I have been told that my Mum & Dad's Will is worthless, as their property will go towards paying my Mum's Care Home bill when they pass on.
I don't have a problem with this - but it does make a mockery of making a will as this seems to override any requests the deceased has made.
Thanks Barmaid - we are aware that there will be a charge - we did it because the value of the estate will be high if we pop it before kids reach adulthood (about £1.5m) - we took a lot of term assurance out as this is pretty cheap and although it expires with no value - it suits our purpose of ensuring that there is plenty of money available to raise the kids to adulthood - once they are adults, they can make their own way in the world and they will get the value of property and whatever else we have at the time. I therefore feel that I would rather have an independant person taking a view on what money in spent on what. Not that I don't trust the family members who are also trustees, but money can do strange things to people!
Not quite Den! The LA can enforce a charge on the property to pay for care home fees - it is a debt and nothing more. Debts have to be paid first before the beneficiaries can inherit. Because you cannot foresee how long care will be needed or if in fact care will be needed for Dad, the fees could be a small proportion of the estate or the whole estate. If there is something left, it will pass under the terms of the respective Wills so the wishes are still carried out.
Same here, Otherhalf - we have only one son and I am also an only child.
We have decided, we will put our property in our son's name before we get too old, in light of the situation with my Mum and Dad.
Also, if my Dad wanted to move, if the house became too much for him, his hands are tied, as only one half of the property would be his and that would not be enough to enable him to find another property. It all seems madness.
I think a lot of people who were encouraged to buy their council homes back in the 70's are now regretting it, because of this reason.
We have decided, we will put our property in our son's name before we get too old, in light of the situation with my Mum and Dad.
Also, if my Dad wanted to move, if the house became too much for him, his hands are tied, as only one half of the property would be his and that would not be enough to enable him to find another property. It all seems madness.
I think a lot of people who were encouraged to buy their council homes back in the 70's are now regretting it, because of this reason.
Morning Barmaid - I don't think there would be anything left - at £700 per week for Care Home fees, over a period of a few years or more, it would amount to nothing.
I was advised that if my Dad had split the ownership of his property, then half would be his and half my Mums, so the Local Authority could only claim my Mum's half and not my Dads when they both had passed away. This is'nt an option now, as with my Mum having dementia, obviously she is not in sound mind to sign anything.
My Dad said he wishes he had never bought his council property, as if he was still on the Council, he could move to a nice little bungalow or flat.
I was advised that if my Dad had split the ownership of his property, then half would be his and half my Mums, so the Local Authority could only claim my Mum's half and not my Dads when they both had passed away. This is'nt an option now, as with my Mum having dementia, obviously she is not in sound mind to sign anything.
My Dad said he wishes he had never bought his council property, as if he was still on the Council, he could move to a nice little bungalow or flat.
Morning Mazie - I suppose as long as your circumstances are the same, then the Will is still up to date and valid.
£450.00 for the lovely place your Mum is in - if it was'nt so far away from us, I would apply. From what you were saying yesterday on the phone, it does sound great, none of our Homes here are that good.
I have woke up with a rotton sore throat and chest today, but will dose myself up for the visit to view the other Home tomorrow.
£450.00 for the lovely place your Mum is in - if it was'nt so far away from us, I would apply. From what you were saying yesterday on the phone, it does sound great, none of our Homes here are that good.
I have woke up with a rotton sore throat and chest today, but will dose myself up for the visit to view the other Home tomorrow.
Unless your Dad has signed as a guarantor for the fees, then the LA can only take her half - that is assuming that she goes first.
The situation as I understand it is that M & D own the property as joint tenants. That means that on the death of the survivor the other one inherits automatically, irrespective of what the Will says. Thus if mum dies first, the LA will only be able to claim back against her share of the property. However, if Dad goes first Mum will inherit the lot and thus the LA can claim back all of it.
As for "splitting" the ownership, I assume you mean severing the joint tenancy to make it a tenancy in common. This means that each person owns a distinct share of the property. When one dies, their half does not automatically pass to the other by survivorship, it passes under the terms of the Will. You say that Dad cannot now "split" it because of mum's mental state. That is incorrect. Dad can still sever the tenancy. All he needs to do is serve a notice on mum saying he is severing the joint tenancy.
As for what the LA can and can't do, I suggest you look at CRAG - http://www.dh.gov.uk/...alasset/dh_115533.pdf
Mazie - might be a good idea just to review your wills make sure they don't require any changes?
The situation as I understand it is that M & D own the property as joint tenants. That means that on the death of the survivor the other one inherits automatically, irrespective of what the Will says. Thus if mum dies first, the LA will only be able to claim back against her share of the property. However, if Dad goes first Mum will inherit the lot and thus the LA can claim back all of it.
As for "splitting" the ownership, I assume you mean severing the joint tenancy to make it a tenancy in common. This means that each person owns a distinct share of the property. When one dies, their half does not automatically pass to the other by survivorship, it passes under the terms of the Will. You say that Dad cannot now "split" it because of mum's mental state. That is incorrect. Dad can still sever the tenancy. All he needs to do is serve a notice on mum saying he is severing the joint tenancy.
As for what the LA can and can't do, I suggest you look at CRAG - http://www.dh.gov.uk/...alasset/dh_115533.pdf
Mazie - might be a good idea just to review your wills make sure they don't require any changes?
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