My grandmother wants to give me and my husband her home. She will still live in the home with us. We would be taking care of her and be taking over financially. How do we do this?
Answers (2)
Well, she's doing you and your husband a huge favor so the least you can do is take of her for a while or if you can ask your grandmother if she can stay with another relative or go to a retirement home, nothing to be ashamed of, my grandparents are there as well. Money is always an issue, ask your relatives for a loan to help out!
It might be worth consulting a solicitor, you might have to "buy" the house from her for a nominal fee.
If this is to avoid the house being sold to pay for care home fees there is a snag there as the government are really keen on catching people out trying to do this (especially if it happens a year or so before the person moves into one!), the solicitor will help.
I was told if we tried to buy the house and the house was worth more than the sales we would be taxed a large sum of money for the difference.
We are extremely appreciative. I would also never ever put her in a retirement home. We are very close and that would never come to mind. We want to care for her and spend as much time with her as possible. She insists on us taking over her home verses her moving to a different state with us away from her home and family. It isn't about the money. Thank you for your feedback but please next time if you are going to answer a question at least do so.