My husband has been in nursing care home for the past 5 months and he is being financed by CHC. I would like to sell the family home and downsize. My question is would I be allowed to do this and who should I consult with? His condition is poor and I’m sure I couldn’t move him but would I be able to move out of the area? I have LPOA but very unsure of my next steps. Many thanks for any suggestions
Advice on finances
- Thread starter Snooze1
- Start date
You might find it useful to contact the support line for advice @Snooze1
www.alzheimers.org.uk
Dementia Support Line
If you need dementia support, we’re here for you. Get personalised information, support and advice by calling us on 0333 150 3456.
www.alzheimers.org.uk
@Snooze1 -The short answer to your question is yes you can sell/downsize and live wherever you wish.
There are a few issues you might need to know about -
Is there anyone else on the LPOA? - you can't act for yourself and your husband in the house sale/purchase -if there is only you an application to the COP will have to be made to appoint a Trustee to act for him
The new property will be held the same way as your current home - if you are joint tenants now you will be joint tenants for the new one.
Half the profit from the sale will be your husbands - as he is CHC funded that doesn't really matter at the moment - and should be put into his account.
He can continue to contribute towards repairs/maintenance/insurance for the new property like he can/does now.
There are a few issues you might need to know about -
Is there anyone else on the LPOA? - you can't act for yourself and your husband in the house sale/purchase -if there is only you an application to the COP will have to be made to appoint a Trustee to act for him
The new property will be held the same way as your current home - if you are joint tenants now you will be joint tenants for the new one.
Half the profit from the sale will be your husbands - as he is CHC funded that doesn't really matter at the moment - and should be put into his account.
He can continue to contribute towards repairs/maintenance/insurance for the new property like he can/does now.
Hello @Snooze1
Yes you can downsize from the family house and you dont need to get permission to do it. There are one or two things you have to be aware of, though.
When you buy a new house it has to be owned in the same way, so if your present home is owned jointly you cannot register it in just your own name. All money made from the sale of the house has to be divided equally between you and each half has to go into a bank account, yours in your sole name and his into one in his sole name. Its important to maintain the savings/assets in case the CHC is ever withdrawn.
Also, you cannot sign for yourself and him using the POA, so if there is only you appointed as attorney he would have to have a trustee appointed, but your solicitor should know how to do this.
Yes you can downsize from the family house and you dont need to get permission to do it. There are one or two things you have to be aware of, though.
When you buy a new house it has to be owned in the same way, so if your present home is owned jointly you cannot register it in just your own name. All money made from the sale of the house has to be divided equally between you and each half has to go into a bank account, yours in your sole name and his into one in his sole name. Its important to maintain the savings/assets in case the CHC is ever withdrawn.
Also, you cannot sign for yourself and him using the POA, so if there is only you appointed as attorney he would have to have a trustee appointed, but your solicitor should know how to do this.
Thank you so much @canary and @thistlejak for your reply. when we set up our our LPOA my husband I were attorney for each other and my daughter as the alternative so I guess she would be for my husband now. It’s early days in the whole process and to be honest a bit scary but I feel I need to have all information. I feel without this site to refer to I’d be wallowing, many thanks
