A friend has been considering signing her house off to her children (48 and 47 years old) but believes that there is an age limit which she has passed, supposedly 60 and she is now 70. Is this a real thing? She has no intention of avoiding care home fees as she is perfectly capable of taking care of herself, but signing it over sooner rather than later before she passes (again, this wont be happening any time soon as she is in good health).
Another thing she's considering is an equity release? Is this a good idea? Mortgage is paid off and she would receive around 50k, house is valued at around 130k. She has an adviser coming round to explain it but I feel they will be biased, since the company is providing the' impartial ' advisor.
Sorry if this isn't where something like this should be posted. Not too sure where else. I realise everyone's financial situation is different and as such Is difficult to comment on but external opinions would be welcomed. Lives in the UK.