How you might protect your property against Care Home Fees?
It’s a statistical fact that one in four of us will need long-term care as we get older, although you may need the services of a residential nursing home at any age as a result of an accident or illness.
Many families have been forced to sell the family home in order to pay for care home fees against their wishes by the local authority. Simply transferring ownership to your children is no guarantee that your house is protected and can carry many other risks to you personally as well.
With the right advice you may be able to protect some or all of your property; you and your partner can make a provision in your Will that, upon death, the half share of the family home is placed into trust for your children or other beneficiaries. This means that you don’t own your partner’s half share; therefore you cannot be forced to sell it. Such Wills are often referred to as a Protective Property Trust Will.
Freshwater Wills charge an additional £120 per property per Will to include this feature within your Will.