MIL has Parkinson and dementia, and has deteriorated quite rapidly over the last month. She’s been admitted to hospital, it’s looking unlikely that she’ll be able to go home.
Before she went in she was doing ok-ish at home with my FIL caring for her. He was also in the process of sorting out their very out of date wills.
The wills are typical mirror wills. The title deeds for their home includes a survivorship clause, meaning that when one dies the other automatically assumes ownership of the whole property.
FIL basically doesn’t want everything they own to be swallowed up in care home fees. It’s too late (we think) to change MILs will, But FIL could change the title deeds to remove the survivorship clause, then amend his own will to leave all his assets directly to their children. MILwould retain ownership of 50% of the property.
All this was discussed in the context of FIL dying and MIL going to care at that point. However, it now looks like MIL will go straight into care from the hospital, and FIL will remain in the property alone, which changes our perspective a bit.
I have read through the info on property disregard (for the financial assessment) and understand that as long as FIL stays in the property, the council will disregard the value of the property.... but is this the case for Properties where the survivorship clause has been removed?
Secondly, if FIL decides to sell and buy elsewhere, will he get half the sale price or all of the sale price to spend on something else? Age Scotland say that the council should disregard the money that comes from the sale of the property, to allow the spouse to buy somewhere else... again, does this still apply if the survivorship clause has been removed?
It’s a minefield!! TIA