Deed of Gift

[dogtired]

Can any of you good people advise me how we go about doing this?
We are still paying a mortgage which has just over seven years left on it.
My daughter would be a beneficiary
The complication is, as most of you are aware I am still recovering from a stroke and was told that should I have to go into long term care , if anything happened to Mr DT any care home fees would have to come from any sale of the property. And if it was seen that if a deed of gift was done on or around this time it would be deemed "illegal" .
I am recovering very slowly but want to sort things out if I can.
Many thanks DT xx

[luxardo]

sell your daughter the house so it's in her name

[dogtired]

She has a young family and her own mortgage so
not an option I don't think

[luxardo]

well give her the mortgage payments every month

[des8]

1) selling the house would probably not solve the dilemma as Council would look to see where proceeds of sale of property had gone
2) unlikely any finance house would grant a mortgage to daughter viewing her current situation
3) gifting monthly mortgage payments might cause IHT problems in event of untimely demise of our friend DT and spouse

AgeUK have a fact sheet about deprivation of assets, but unfortunately doesn't have suggestions on circumventing the problems
https://www.ageuk.org.uk/ and search for " factsheet 40 "

[dogtired]

1) selling the house would probably not solve the dilemma as Council would look to see where proceeds of sale of property had gone
2) unlikely any finance house would grant a mortgage to daughter viewing her current situation
3) gifting monthly mortgage payments might cause IHT problems in event of untimely demise of our friend DT and spouse

AgeUK have a fact sheet about deprivation of assets, but unfortunately doesn't have suggestions on circumventing the problems
https://www.ageuk.org.uk/ and search for " factsheet 40 "

That's what I thought , Having gone through the documents I was given when I did an income and expenditure Any respite care I would need now would be on my income alone but if something happened to Mr DT The house would be counted as part of my income and would need to be sold to pay for this service. Not sure how this works on any remaining mortgagee either.. I Most local authorities are cash strapped anyway. And rules are very strict.*