Parents want to sign over their home to their son to avoid Fair Deal Scheme

Brendan Burgess said:

The parents would be very stupid to sign over their only asset to their child.

Lots of things can go wrong:
The parents need money and no longer have an asset they can get a life loan based on.
Parents and children fall out.
The child divorces his wife and the wife claims half his assets.
The child dies, and the wife kicks the parents out of their former home.

They might all have a low probability of happening, but the consequences are huge.

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Totally agree with this. There's no benefit to the parents and they are taking on a huge risk here. Anything could happen in the intervening years and they may need care.
Are they driving this or is their son driving it?

Even looking at the figures what is the max saving here? Assuming both parents went to care incurring fair deal costs, CAT tax VS CAT tax only.

I'd have serious concerms here about potential elder abuse as theres no absolutely no up side for the parents.