Fair Deal/Nursing Homes Fair Deal help

[Mollymoo4]

Hi,
I have some questions about the fair deal process in Ireland.

My parents both in their 70's own a house valued at approx 200,000. They have about 35,000 in savings.

If ONE of them were to go into a nursing home I believe they would pay 3.5% of house value per year for first 3 years.

If the sold the house whilst in the nursing home they would pay 3.75% of house price for first 3 years also.

What are the implications of signing over there house to my sister within 5 years of requiring nursing home support. I know if it it is OVER 5 years it is not taken into account.

Just worried that if they sign the house over to her and something were to happen in the next 5 years, would they have to pay it as an asset for every year they were in the home.

Thanks.

 

[ClubMan]

What are the implications of signing over there house to my sister within 5 years of requiring nursing home support.

It'll still be taken into account for the financial assessment.

Financial assessment: How much you pay towards care

Find out how how the Fair Deal financial assessment works and how we calculate your payments towards nursing home care.

www2.hse.ie

Transferred Assets​

The financial assessment includes any assets you have transferred:

• in the 5 years before the date of your first application
• on or after the date of your first application

If you have given any land, property or money to another person in the last 5 years, you will need to tell us. You will also need to tell us if you transfer any property, money or land after you make an application.