How a married couple protected their property value from care fees
Mr R has worked all his life to buy his property and had no intention of letting it be sold to pay for his or his wife’s care fees in the future.
Care Free Trust Will
Having consulted a Will Power adviser who explored Mr and Mrs R’s family circumstances in-depth, a Care Fee Trust Will was recommended to Mr and Mrs R.
This places the half of the property of the first to die into a trust.
This half will never be subject to care fee payment and the arrangement means that the value of the other half is much diminished as far as the care fee means test is concerned.
Giving Peace Of Mind
This gives Mr and Mrs R peace of mind that while they are both alive there is no change. They are free to sell the property at any time, retaining complete control over it.
Should either Mr or Mrs R need care in the future, as long as the other spouse remains living in the property, the local authority may not take its value into consideration in assessing the savings of the person needing care.
And most importantly, should the survivor need long term care, only their own half share in the property may be taken into consideration by the local authority in assessing the value of their savings, protecting at least half the property from this risk.
Expert Advice That Costs Nothing
Mr and Mrs R were delighted with this outcome and the specialist service provided by Will Power. They were especially pleased that the expert advice provided cost nothing, paying only to prepare the required legal documents. The resulting saving for their loved ones far outweighed the fee to Will Power.
“We never knew this was possible. Will Power made it easy for us. We now have Wills which protect our home for our children. We are so grateful.”
About Will Power
Will Power has been helping families take care of their future since 1992 and have well over 10,000 local clients. We come to you, our advice costs nothing, and we spend the minimum amount possible of your time carefully exploring your circumstances.
You can be sure that once we have visited and examined your family’s situation, we will recommend the most appropriate wealth and care fee protection services for you and your family.
Will Power is a member of the Institute of Professional Willwriters and is compliant with IPW code of practice.