If it is not reasonably foreseeable at the date of the transfer that the transferor would need care, for example if they are fit and healthy at that time, it would be more difficult for the local authority to argue deliberate deprivation. It may also be possible to challenge any transfer arrangements made by the transferor if they are facing matrimonial proceedings or financial difficulties. Reduced quality of life The homeowner should always consider that by divesting themselves of their main home, they are also potentially limiting their choice and quality of care home should they need to go into care in the future. "Gifting property in one's lifetime is a complex matter which needs proper advice followed by informed and considered decision-making."
There are alternative options to transferring property. For example, if one wishes to relieve themselves of the burden of managing property, they could make a lasting power of attorney for property and financial affairs, appointing a representative to do so on their behalf. One could also make a will specifically leaving property to a beneficiary. This way, they can ensure they do not relinquish control of the property with all the attendant risks outlined above. Consideration can also be given to placing the property in trust, but, again, proper advice would need to be taken in this regard. Overall, it has become apparent that gifting property in one’s lifetime is a complex matter which needs proper advice followed by informed and considered decision-making.
geoff.dennis@haroldbenjamin.com
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