A friend of mine was contacted 2 weeks' ago and encouraged to sign over half of his house to a son to avoid care home costs.
This contact was made through Pensioners Association / SENSE.
He now has 4 documents that cost him £1,400 last Friday and I (as a non-legal person) could shoot holes in them. His son (the one named as the executor) attended a meeting where my friend handed over a cheque for £1,400. It is difficult fine-balance to allow your 68 year Dad to take all of his own decisions..... but know that he does need some extra guidance because he is a recovering stroke patient.
I was asked to read the 4 documents and - truly - they are worse than a PO self-do job! The 4 documents conflict with each other .... I am so sorry I can't give you more detail. I am so incensed that my friend was targeted but not supported properly.
I have written to Pensioners' Association to register discontent on behalf of my friend and asked that the cheque is NOT cashed. (That is certainly within the cooling off period). I have said that I am staying at friend's house until Monday/Tuesday so that I can help.
- If I suggest that my friend stops the cheque on Monday - are there any repercussions for him?
- Does anyone know anything about this Pensioners Association / SENSE scheme?
- Is it true that if you sign over half your house now, the 'new rule' is that it becomes the other person's asset in 6 months? (I always thought it was the 7 year rule for gift payments and assets).
Thank you to anyone who can help me guide my friend.