ADvice please urgently

[Jean1234]

Hi friends
I have found us a house to buy and am busy trying to sort out solicitors to help me do so. I thought I had found one near the house but as soon as I mentioned that my OH had Alzheimer's they pulled out saying I would be best to have someone closer to where I am now to advise me. I mentioned that I had poa for financial and health and that seemed to make them run!!!!

Anyway, I have an appointment tomorrow to see my local solicitor, who incidentally arranged the POAs for me and our wills, so hopefully she will do it for me.

What I would like explaining to me again is the advantage of buying the house as tenants in common. Am I right in assuming that the benefit is that if my OH goes into a home and then I change my will, I can then make sure that my half of the value of the property, if I should I die first can be left to the children rather than it all going to my OHs estate as it will if it is in joint names and therefore the state will use the whole house value to pay for the care of my OH until he dies? We have mirror wills at the moment leaving everything to each other. It's horrid to have to think like this.

Also if it is a tenants in common and our wills state it goes to each other, should he die first then I will get the whole house so I can leave it to the children? If the house is in tenants in common and I am living in the house the state can't make me move out can they or draw money from the house to pay for his care?
The other option would be for me to put it in my name only and will half the house to my OH and half to the children, but as most of the money is coming from the sale of our Spanish house which we joint owned presumably I set myself up as defrauding my OH of his half share?

Sorry to be so long winded but I know several of you have been down this road and I'd like to be forewarned before seeing the solicitor tomorrow lunch time.

Many thanks

 

[100 miles]

The solicitor should be able to help you. They are the experts (fingers crossed).

Generally - you need to act in your husband's best interests. Which I am sure you are.
The council will want to be certain that you are not deliberately reducing his assets so if he reaches the stage where he needs care, they will have to pick up the bill.
But if the house is your home I believe they couldn't force the sale when you are living there. I am not sure what the situation is if you want to sell the house if he was in a care home. Ask the solicitor if they can put a charge on the house for when it is eventually sold.

Hopefully the solicitor will be able to talk you through it all.

I hope the move goes smoothly and he settles well in the new house.

 

[Beannie]

Hi friends
I have found us a house to buy and am busy trying to sort out solicitors to help me do so. I thought I had found one near the house but as soon as I mentioned that my OH had Alzheimer's they pulled out saying I would be best to have someone closer to where I am now to advise me. I mentioned that I had poa for financial and health and that seemed to make them run!!!!

Anyway, I have an appointment tomorrow to see my local solicitor, who incidentally arranged the POAs for me and our wills, so hopefully she will do it for me.

What I would like explaining to me again is the advantage of buying the house as tenants in common. Am I right in assuming that the benefit is that if my OH goes into a home and then I change my will, I can then make sure that my half of the value of the property, if I should I die first can be left to the children rather than it all going to my OHs estate as it will if it is in joint names and therefore the state will use the whole house value to pay for the care of my OH until he dies? We have mirror wills at the moment leaving everything to each other. It's horrid to have to think like this.

Also if it is a tenants in common and our wills state it goes to each other, should he die first then I will get the whole house so I can leave it to the children? If the house is in tenants in common and I am living in the house the state can't make me move out can they or draw money from the house to pay for his care?
The other option would be for me to put it in my name only and will half the house to my OH and half to the children, but as most of the money is coming from the sale of our Spanish house which we joint owned presumably I set myself up as defrauding my OH of his half share?

Sorry to be so long winded but I know several of you have been down this road and I'd like to be forewarned before seeing the solicitor tomorrow lunch time.

Many thanks

Hi Jean1234

Not sure how old you are? The new Continuing Care Act became Law in April 2015. This law states the following:-

If the house in question is occupied by the spouse of the person requiring care and they are 60 years or over and/or have a disability then the house is not taken into consideration when assessing care home fees. If you have access to the internet look on the official Government website for the rules of the Continuing Care Act. It is well,worth knowing as the powers that be will try every trick in the book to say you need to pay but the rules have changed. I went through all this last October/November and I was proved right.

A tenancy in common means you both own the house and you can decide how to split it. My OH and I split it 75/25 in my favour but you would be wise to seek proper legal advice and your Solicitor will be able to explain everything to you. Hope this has been some help to you.

 

[Scarlett123]

Hi Jean, and I hope my experience can be of help to you. My husband and I (goodness, I sound like the Queen ) had mirror wills, but as soon as he went into the Care Home, I saw a solicitor, and had the Deeds changed to Tenants In Common.

Because John was in the Advanced stage of AD, all I had to do was pass him the paper, and somebody witnessed that he had in fact touched it. On the basis of that, the Deeds were deemed changed.

I then prepared a new Will, leaving my half of the bungalow, plus all savings in my name, to my children. As it happened, John died a few months later, but none of us have crystal balls, and as he was 20 years younger than the eldest resident, I might have predeceased him.

Nobody can make you move out of the house or sell it and stick you in a tent. If, for instance, I need to go into care, at some point, then, as I'm the sole owner, a charge, called a lien, could be put against the bungalow, so that when I died, my kids would have to pay the accumulated fees from the sale of the home.

But as I won't be around then, I'm not concerned.

 

[Jean1234]

Thanks

Hi Jean, and I hope my experience can be of help to you. My husband and I (goodness, I sound like the Queen ) had mirror wills, but as soon as he went into the Care Home, I saw a solicitor, and had the Deeds changed to Tenants In Common.

Because John was in the Advanced stage of AD, all I had to do was pass him the paper, and somebody witnessed that he had in fact touched it. On the basis of that, the Deeds were deemed changed.

I then prepared a new Will, leaving my half of the bungalow, plus all savings in my name, to my children. As it happened, John died a few months later, but none of us have crystal balls, and as he was 20 years younger than the eldest resident, I might have predeceased him.

Nobody can make you move out of the house or sell it and stick you in a tent. If, for instance, I need to go into care, at some point, then, as I'm the sole owner, a charge, called a lien, could be put against the bungalow, so that when I died, my kids would have to pay the accumulated fees from the sale of the home.

But as I won't be around then, I'm not concerned.

Thanks Scarlett
So if I buy the house as Tenents in common from the beginning, I shall be in the same position and should he go into a home I could change my will in favour of the children. As you say, if I end up in a home too eventually then they could take the money after my death, which I thought they could force the sale before hand.
I am over sixty so I shall look up that new law that the previous answer mentioned.
I will of course discuss this with the solicitor tomorrow but all your answers have been a great help. Thank you

 

[pamann]

Hello Jean, l did exactly the same as Scarlett, so you would be wise to do the same. Take care

 

[Jean1234]

Thanks everyone

Hi friends
I have found us a house to buy and am busy trying to sort out solicitors to help me do so. I thought I had found one near the house but as soon as I mentioned that my OH had Alzheimer's they pulled out saying I would be best to have someone closer to where I am now to advise me. I mentioned that I had poa for financial and health and that seemed to make them run!!!!

Anyway, I have an appointment tomorrow to see my local solicitor, who incidentally arranged the POAs for me and our wills, so hopefully she will do it for me.

What I would like explaining to me again is the advantage of buying the house as tenants in common. Am I right in assuming that the benefit is that if my OH goes into a home and then I change my will, I can then make sure that my half of the value of the property, if I should I die first can be left to the children rather than it all going to my OHs estate as it will if it is in joint names and therefore the state will use the whole house value to pay for the care of my OH until he dies? We have mirror wills at the moment leaving everything to each other. It's horrid to have to think like this.

Also if it is a tenants in common and our wills state it goes to each other, should he die first then I will get the whole house so I can leave it to the children? If the house is in tenants in common and I am living in the house the state can't make me move out can they or draw money from the house to pay for his care?
The other option would be for me to put it in my name only and will half the house to my OH and half to the children, but as most of the money is coming from the sale of our Spanish house which we joint owned presumably I set myself up as defrauding my OH of his half share?

Sorry to be so long winded but I know several of you have been down this road and I'd like to be forewarned before seeing the solicitor tomorrow lunch time.

Many thanks

Thanks everyone. Saw the solicitor today and arranged to buy the house as tenants in common. She explained more fully the position this puts you in, I.e if you should wish to sell the house. She was careful how she worded everything as I had of course gone with my OH but in a phone call later said that in the circumstances she really would recommend doing that way. As always TP has smoothed the way

 

[Scarlett123]

Thanks everyone. Saw the solicitor today and arranged to buy the house as tenants in common. She explained more fully the position this puts you in, I.e if you should wish to sell the house. She was careful how she worded everything as I had of course gone with my OH but in a phone call later said that in the circumstances she really would recommend doing that way. As always TP has smoothed the way

Always happy to be of help. That's the joy of TP. You pass the help on.