what are the restiction on giving my house to my two sons and my daughter l am 81 years old and suffering in health and strongly object to the thought of having to sell my house to pay for nursing care
Province/Country relating to question : nottinghamshire
noth ing aneighbour told me that there mother and passed their house to him and his sister
Do you own your property solely?Does it have a mortgage?
yes l own the property l have no mortgage
There is no restriction on you doing what youpropose BUT
If you give your house away to avoid payingcare fees, the local authority can set the transaction aside as though it neverhappened and force a sale of the house from your children.
The only way round it is to sell it to themfor full value but then it means that the local authority would be spendingcash (your cash) instead of having to sell your house.
There are various schemes around which supposedlyput the property into a trust but none of them are guaranteed to work in factI've never come across one yet that does work. Ohe organisations that set themup do it because they charge £4000 and in my opinion they are praying on peoplewho are looking for a solution to the problem, a solution which does not exist.
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PGD Law. 20 years legal profession, 6 as partner in High Street practice
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