Care home fee asset protection
When you go into care, you are automatically means-tested and all your assets, including your home, are taken into account when it comes to the payment of care home fees. To ensure your assets are protected and to keep them from being used to pay your care home fees, seek expert legal advice.
Our Private Client team has helped many individuals avoid their assets from being used to pay for care home fees. We help by ensuring proper and legal measures are used to ensure the security of property, finances and other assets.
You cannot simply give away your assets in an attempt to avoid paying care fees, as local authorities have extensive powers when calculating your wealth. But there are ways to ensure your assets go to your beneficiaries. This includes:
- transferring property;
- setting up a lifetime asset protection trust;
- repaying legitimate debts;
- producing receipts for legitimate expenditure;
- drafting an asset protection will; and
- arranging an immediate care plan.
It is essential that legal advice is sought when considering the protection of assets from care home fees to ensure you do not fall foul of legislation and your assets go to the relevant beneficiaries.
How we can help
The expert team at Lupton Fawcett is here to help you weigh up your options when it comes to protecting your assets by explaining the benefits and risks so you can make an informed decision. We can then assist you in implementing a plan to help you secure assets legally and properly.
For more information on protecting your assets, or for help making a decision about care home fees calling 0333 323 5292 or fill in the enquiry form on this page and we will be in touch.
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