As @Protocol says above these are your father's decisions to make not anybody else's.Hi, my father is currently in a nursing home and my mother has already passed, with the family home lying empty. My two brothers have agreed that myself and my family could move into the home as caretakers and sell my own property with a view to purchasing the family home from them once my father has passed.
yes, we are all in agreement that the bill is split evenly 3 ways and it is under the fair deal scheme so capped at 3 yearsI can see a massive family row here.
Was it agreed in advance with the other siblings, who pays the nursing home charges?
I know a family where the father was in a dementia care home for 10 years. There was nothing left for the children.
Basically, since there isn't a will, its a 3 way split.Hi, my father is currently in a nursing home and my mother has already passed, with the family home lying empty. My two brothers have agreed that myself and my family could move into the home as caretakers and sell my own property with a view to purchasing the family home from them once my father has passed. The house has been valued at €400k to be split equally three ways once our father passes. The nursing home bill (under the fair deal scheme) will also need to be paid from the sale of the house.
I am looking for advice on the future purchase of the house and how it will work in relation to monies to be paid to both brothers. If the house is worth €400k, am I to borrow a mortgage only to cover payment for buyout of my two brothers i.e. 2/3 of price - or how does it work? Also, what way does the split for the nursing home bill work?
I would also welcome any further advice on any taxes that my be incurred during the purchase.
thanks,
a deed of family arrangement has been drawn up by solicitor to confirm the agreement.
Not sure where this 10% is coming from…max payable is 22.5 % if the person survives more than 3 years in the nursing home which is deducted on the value of the house when the patient was accepted into the scheme…7.5% per annum
So basically, if the fair deal is maxed at cap of 10%, the state is entitled to 40k from the sale.
With Fair Deal, this should not happen!I can see a massive family row here.
Was it agreed in advance with the other siblings, who pays the nursing home charges?
I know a family where the father was in a dementia care home for 10 years. There was nothing left for the children.
When the time comes however, you will be purchasing it at the then current market value.We had a recent valuation before the fair deal and 400k was the price the house was valued.
I know a family where the father was in a dementia care home for 10 years.
So basically, if the fair deal is maxed at cap of 10%, the state is entitled to 40k from the sale.
Not sure where this 10% is coming from…max payable is 22.5 % if the person survives more than 3 years in the nursing home which is deducted on the value of the house when the patient was accepted into the scheme…7.5% per annum
Mea culpa I was thinking of the lower 3.75% rate that applies if the person is part of a couple. Still capped at 3 years - but the 7.5% or 3.75% is based on total assets, not just the family home BUT the 3 year cap only applies to family home, farm or proceeds of the sale of the home. Anything else is not subject to the same limit. The limit is 11.25% in the case of one of a couple, and 22.5% if both require it.Not sure where this 10% is coming from…max payable is 22.5 % if the person survives more than 3 years in the nursing home which is deducted on the value of the house when the patient was accepted into the scheme…7.5% per annum
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