How does it work if husband begins dementia and both named on property

boomerang

Registered User
Jun 13, 2012
48
0
I have just been asked by someone this question if you are joint named
on the house deeds how does the finances work if the husband has
to have care at home or go into a home does the wife have to loose half
of the home or do they not take the home into account which they would if
it was a single person living in their own home this question is from the U.K.
or would it be better for her to have the house put into her own name
Many thanks
 

NeverGiveUp

Registered User
May 17, 2011
1,034
0
First thing to do is get Power of Attorney, preferably both kinds, that way will put wife in control of everything, don't leave it too late.
 

boomerang

Registered User
Jun 13, 2012
48
0
Hi boomerang,

Is this in England/Wales? If so the house would be disregarded as long as the wife is occupying it as her main residence.

This fact sheet on Paying care home fees may help.

My friend was under the impression as it is early stages at moment that they would take the house money after her death which worried her as later in life she wanted to sell and desize?? so wondered if she should change the deeds to just her name to cover herself
 

nitram

Registered User
Apr 6, 2011
30,075
0
Bury
If the property is jointly owned full title passes to the survivor if either husband or wife dies, this is nothing to do with making a will its just the rules regarding joint ownership.

In the case in point if the wife predeceased the husband ownership would pass to the husband and the full value of the house would be included in any financial assessment by the LA for care home fees.

The ownership can be changed to 'tenants in common' to avoid this. With this arrangement husband and wife each own half a house as opposed to having a half share in the house, this means that the wife could bequeath her half to a trust preventing the LA from including it in the assessment.

EDIT

Changing ownership from joint to sole (wife only) would be regarded as deprivation of assets.
Changing from joint to tenants in common is different, the husband's share in the value of the house does not change, the change is that the wife is free to bequeath her half leaving the husband still owning half a house.
 
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