Care Home Fees : Clawback Of Monies Gifted !

Discuss news stories and political issues that affect carers.
One article from the Daily Mail on the problems with gifting monies and future care home fees :

http://www.dailymail.co.uk/money/news/a ... -cash.html

For the DM , seems genuine as opposed to scare mongering.

Just a snippet as a taster , worth reading if any reader is currently affected by the LAs attempting to challenge actions in the past :

Baroness Ros Altmann, a former Pensions Minister, says: 'Giving grandchildren gifts, paying for weddings or cancer treatment is a natural part of family life and for councils to suggest this is somehow not allowed is outrageous.

'Such stories are further evidence of the mounting care crisis in this country. Families and vulnerable elderly people should not be hounded by local authorities desperate to recoup care costs any way they can.'

But Owain Wright, of Care Funding Guidance, warns against trying to give away money too readily. 'If you are successful in depriving yourself of an asset, you are condemning yourself to a lower quality of accommodation in your final years because you will be in a standard local authority care home,' he says.



From the LAs perspective , a logical maneuver given their current financial predicament as may be gleamed from several articles previously posted in the News Section.
If that time comes for me I've already decided that I'm going to depart this world in my own time and in my own way. I've seen too much of the "care" system (surely it should be labelled the "care not" system ?) in this country to want to go it through it myself thank you very much !
Place in local lime pit already secured.

Hopefully , I will have no pulse as the deed is done ?

Now to be able to afford the lime.

Does gifting or bequeathing one's debts entitle me to a discount ?
Last paragraph of that link
The council can then reclaim care fees it believes the person should have paid — even if they no longer have the money. The cash can be recovered from the recipient of the gift.
How many £thousands of pounds will be spent taking families to court. Money that could be invested in care.

x x
rosemary wrote:Last paragraph of that link
The council can then reclaim care fees it believes the person should have paid — even if they no longer have the money. The cash can be recovered from the recipient of the gift.
How many £thousands of pounds will be spent taking families to court. Money that could be invested in care.

x x
and considering that Inheritance Taxrules state that gifts can be made up to a certain limit and within a certain timescale to, quite legally, reduce Inheritance Tax can't see many courts ruling in favour in the LA's so what a waste of money that could be used elsewhere that would be !