Fair Deal with non spouse joint account

szlb

But of a random 1 I can't seem to find an answer to so hope someone may have had similar

My dad went into a nuraing home 2 years ago after illness, fair deal was rejected due to value of his home. We were offered the loan option but decided to sell and self fund. It was then agreed that I would become a joint name on the bank account to manage everything, (Also the sole name in the Will so.no concerns there) The assets from the sale were lodged into that account and I have been paying the Nursing home fees from the funds. Last year I transferred a large amount to my own personal account for a purchase of a house ( his idea) . We had planned on re applying for Fair deal a few years down the line, but im wondering now if they have claim to what is effectively my asset? Bought from a joint account with single signature requirements, Or if I wait 5 years does it fall away under the 5 year rule still anyway.

There is enough assets to cover another 2 years or so but then im gonna struggle to cover the fees. Can probably cover a year with a mortgage against the house but need to have a plan that ideally doesn't involve selling my house as i am also a carer for my disabled child.

Also dont quite understand the 3 year cap, how would it benefit us in this situation

bemak

What might catch you is the transferring of the funds. The form asks to outline any funds transferred to someone else in the past 5 years.

You're entitled to claim the cost of the nursing home as an expense against the tax you pay a year. That should help a lot.