What I should do ?

[brookbond]

I have a bit of a predicament here and wondered if anyone has a similar experience and what was done to get things sorted.

Mum is getting worse as the AD is advancing. We have not sought POA but I feel that this is something that should be done ASAP.

The situation is Mum and Dad have separate bank accounts. I know that Mum has guite a sizeable amount in, but is now at the stage where she does not know how much, and not capable of managing it. She also has the thought that Dad has
stolen some of her money from her account, which is totally wrong as no-one has access.

They have a property which is joint owned. Dad pays all the bills and shopping expenses.

To safe guard things I am wanting to set up a POA, first and formost to deal with Mum's financial affairs and secondly we need to think about what would happen if Mum has to go into care. I hear horror stories about how the authorities take control of peoples finances and force people into selling their homes.

After speaking with Dad who is not well himself but mentally ok, we had the thought that...

If we can get POA, we could transfer some of Mum's account to Dad or elsewhere to reduce it below the threshold, but is this allowable ?. Or set up a monthly transfer to help pay for monthly outgoings.

We also need to think about the property as this is also an asset as it is jointly owned.

Dad had thought of an equity release option, but I am not so sure.

I had the idea that they should sell the property and buy another but in my name. Again would this be an option ?.


Any help and advice would be appreciated

 

[Christin]

Hello Brookbond, I am sorry to read about your parents.

I just wanted to pop the link in for the AS factsheet Paying Care Home Fees.

I am absolutely no expert, and I hope that someone will be along soon with more experience for you, but you do certainly need to be careful about moving money and deprivation of assets.

This link Care Home/Deprivation of Assets, from the Age Uk website may also offer you some help.

Best wishes to you all.

 

[nitram]

Any movement of funds from your mothers account to your father. or anybody else, will be regarded as deprivation of assets as would transferring title of the house.

The value of the house will be disregarded for as long as your father lives in it.

It is reasonable that your mother shares the cost of all joint household expenses, this could include getting a new car, updating central heating,.....

You say the house is jointly owned, if your father predeceased your mother the full value of the property would be regarded as your mother's asset, this can be avoided to changing the ownership to tenants in common.
http://www.thisismoney.co.uk/money/news/article-1594984/Tenants-in-common.html

 

[brookbond]

Thanks ro Nitram and Christin re the advice about the property et al.
As I also live in the house would this mean it could be disregarded ? as it is my home as well ?

 

[nitram]

"...As I also live in the house would this mean it could be disregarded ? as it is my home as well ?..."

Assuming you are aged between 16 and 60:-
If you are in receipt of certain disability payments, yes.
If you are the main carer, maybe.

 

[brookbond]

Thanks for your response Nitram.
You are right in your assumption 16-60. Not disabled but could be considered main carer.
Have just been reading the links posted in previous posts which has given me some clarity

Still not a good situation. Me thinks this should have been dealt with earlier.

 

[caravaner]

Hi Brookbond,

I have been in this situation myself. Parents would never sign house over or money etc. and then it was more or less too late.

My father was mentally well but physically weak. Mother has alz/dementia. What we did with the assistance of the solicitor was to get Dad's half of the house safeguarded by changing them to tenants in common and changed his will to leave his half to his children in trust.

They also had joint back account so we opened a new account for dad and moved half the money into that.

My dad died several months after this and mum went into a care home self funding. Her savings are now down to the minimum and LA are doing financial assessment. Although mum only owns half the house they are quite insistent that it will have to be sold to pay for her care.

To be honest it is a nightmare.

Good luck.

 

[nitram]

"... Although mum only owns half the house they are quite insistent that it will have to be sold to pay for her care...."

http://forum.alzheimers.org.uk/show...care-home-fees&p=584422&viewfull=1#post584422

 

[brookbond]

Hi Caravaner,
Thanks for the post... your situation sounds like what I am heading into, and not a pleasant proposition.
Thanks to all the people that have posted here, I have been doing lots of research and will be going to seek legal advice.

Many thanks to all.

 

[nitram]

If you don't already have a solicitor and are thinking of setting up a trust consider using a member of http://www.step.org/

Click on 'Member Search' to find members in your area.

 

[caravaner]

Nitram - thank you for the link but the LA are adamant that they will only pay their limit towards the care home fees and I will have to pay the top-up. I have sent a letter and explained all to them (no ch cheaper was available at the time etc) but they are truly sticking to what they say and wont budge.

The care home are unwilling to wait for their money from the LA and it is putting us in an awkward situation.

I just feel that the best thing all round is to just pay the top-ups (thankfully only £20 per week) and sell the house to stop all the continual stress.

The house is not in good enough condition to rent and has already been left empty for nearly 1 year so state is getting worse.

Take care Brook bond to get all the info you can and sort things out as soon as possible to try and avoid what I am going through.

 

[brookbond]

Nitram - thank you for the link but the LA are adamant that they will only pay their limit towards the care home fees and I will have to pay the top-up. I have sent a letter and explained all to them (no ch cheaper was available at the time etc) but they are truly sticking to what they say and wont budge.

The care home are unwilling to wait for their money from the LA and it is putting us in an awkward situation.

I just feel that the best thing all round is to just pay the top-ups (thankfully only £20 per week) and sell the house to stop all the continual stress.

The house is not in good enough condition to rent and has already been left empty for nearly 1 year so state is getting worse.

Take care Brook bond to get all the info you can and sort things out as soon as possible to try and avoid what I am going through.

Thanks Caravaner - you sound to have an awful situation.
For my part since I have come back home to live it has been a startling realisation of just how bad things are. I had not realised how bad Mum has become.
I am trying now to get POA but my feeling is it may too late to take it through normal channels. But at the same time we are also trying to protect Mum and Dad's assets as well but that does not look good either. We are seeing solicitors et al today if I can get Mum there mood depending.

I hope you manage to sort things out.
Did your Mum adapt to her new surroundings easily ?