Long term care
Many people are worried that if they need to rely on care in a nursing or residential home that the costs of this care will slowly eat into their savings and leave very little for their intended beneficiaries. You can give away assets during your lifetime but, if the Local Authority take the view that your reason for the gift is to deliberately reduce your liability for care fees, they can disregard the gift and treat the asset as still owned by you.
There are ways of protecting funds such as this through a Protective Will Trust and we would be happy to discuss the options with you.
