Areas of Law / Property

We are elderly and my wife is starting to suffer from memory loss. I am concerned to secure her future should I die first. We own our house in joint names, and my stepson has suggested we sell it to him for a nominal sum while continuing to live here. Is that a feasible option?

If you were to die first the property would become your wife’s. So her future is secure, although it may be an idea for her to register a lasting power of attorney. Selling the house to your stepson could be risky, since he could die, get divorced or become bankrupt, in which case you could lose your home. Talk to a solicitor about this. He or she will also discuss care home fees with you, which is possibly what concerns your stepson.

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