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Dementia tax? I don't get it??? - Page 2 - Carers UK Forum

Dementia tax? I don't get it???

Discuss news stories and political issues that affect carers.
Colin, yes you are right, only self funders have real choice

Jenny , in the situation you describe, does the woman doing the caring not already have a home of her own? Surely what she's doing is trying to protect the value in another one?
I really do wish we'd get awayfrom the idea of people inheriting a house. Its just an asset that may or may not come to people at a life stage when they have already probably provided for themselves. Also at any point the will could be changed to leave everything to Cats home, or the least favourite sibling, or a new girlfriend. :o :o
Its pure wish or luck if anyone is able to inherit anything, let alone a fortune.

It's only due to the huge growth of UK property market that anyone even has a chance of buying their own care. If property hadn't risen so much Social system would have collapsed long ago. The whole thing is unsustainable.
Mrs A, yes. I think my friend feels, not unreasonably, that having devoted five years of her life (and probably more to come still) to making sure her dad has the best quality of life he can, not being ' put in a home' etc, that her 'pay' will be her half of his house.

I guess I do agree with the premise that we shouldn't 'expect' to inherit our parents' house, though again, in practice, because of the inflated values of the house, 'wasting it on care' (!) can seem appalling, plus, from the other side of the fence, it is only when our parents peg out that our children can have a hope of inheriting sufficient deposit for a house of their own (because, again, of inflated house prices!).

I suspect that house-owners are just going to have to start disposing of their asets (ie, share of house) much earlier in their lifes, and passing the 'share' on to their children much sooner.

BUT, then we hit the problem of the LA clawing back the value IF the parents then need care.....

As I've banged on about before, we need a definitive ruling on the minimum amount of time that someone can dispose of their assets without the LA being allowed to claw them back. I vote for the same 7 year rule that applies to inheritance tax. But it needs to be tested in a court of law, or ordained by government edict.

One other danger of parents handing over their assets to their children 'earlier' of course is that it then risks a spouse of the child divorcing and getting half the assets anyway! So the parent ends up enriching a spouse....

Maybe trusts, sort of 'whole family trusts' that protect property/assets from tax, LA claw back and divorcing spouses, will have to become the norm.

PS Which is what rich folk do, just as you said, Mrs A!
Hubbys and my 2 daughter's are well aware that our home could possibly be taken up by various needs care wise. I told them we bought the house with their future in mind.( We bought after both were born). However, it sadly may not be the case. They are wise enough to understand this, especially after the shock of what has happened to our family.
One woman I worked with didn't actually like or love her mother but made it clear that she must keep on the right side of her because of inheritance!! It quite knocked me sick.
I have always helped my children out, willingly and with love, so I'm not going to fret. It's the last thing they want me to do.
My little emotional side to the state of things.
Pet, as an aside, my mother used to tell me that her grandfather left a will that left the farmland they owned between their two sons EXCEPT for a particularly valuable section that was left outright to his widow, my great-grandmother PRECISELY so that BOTH sons had to go on being 'nice' to their mum for the rest of her life, as she could have sold her bit, or left it to one or the other etc etc. It guaranteed she wasn't neglected or ignored! :)
My mother and father in law left everything to us and you know what? None of it means anything without our son. What is the point of having the money and nobody to leave it to? Ditto with buying a house. We don't drink, we don't smoke we don't go clubbing, both of our health is shot so a lot of holidays we won't be be able to go on anyway and there is nowhere we want to go.

Dear Eun
Thank you for bringing us back to earth, we can so easily forget there are many many different situations as there are people.
I do hope you and Robert senior use your inheritance to make you sure you have some comfort and even a bit of luxury. You both so deserve it after your years of devotion.
Dear Eun
I absolutely second Mrs A!
I'm very fortunate in lots of ways re family, although as I'm sure you will understand, I miss my husband dreadfully, seeing him in his dementia world. However, your situation is extremely heartbreaking, and I wish you more than you will know, some peace and a few luxuries that your Rob would want you to have.
Jenny Lucas,

Did you know that the expression, "Live past the age of 40 and you're sorted," comes from. It comes from the 'Elizabethan's apparently. Their death rate was so low, you could expect your parents to be dead by age 40!!!

Up to that time, the control freaks could tell you what to do, etc.

No longer... I hope so!
Now I'm just being fascitious!

Actually, I admired the hell out of Rob, and followed him online. What he achieved in his short life was WAY more than most of us would hope to achieve in two life-times.

He is my hero.
As I watched this disastrous policy unfold it struck me that when I return to the workforce, I will not be able to afford a house, nor be able to inherit one because my mother doesn't own one. Why should my tax pay towards the care of people who can afford to pay for it, just so their adult children (who may well own their own property outright) inherit a(nother) house?

That said, I completely sympathise with Henrietta's position, and we find ourselves back to the problem of family carers neither being valued nor compensated for the work we do. We are, after all, providing exactly the same care as nursing homes do, minus all the overheads. (Even then, as a carer I am contributing to food, utility bills etc.)

If this policy is to go ahead (and I think it will in some form, as social care is so expensive) I think family carers need to be protected. There are already rules about not selling assets prior to financial assessments. They should be able to construct some formula to compensate a live-in family carer, whether this be a proportion of sale value or the ability to live in the residence for rest of your life depending on your circumstances.