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 Fee 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 type of will places half of the property into a trust on first death.
This half will never be liable to be sold to pay for care fees. In addition 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 in their circumstances. They are free to sell the property at any time, retaining complete control over it.
Furthermore, 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.
Once Mr or Mrs R has passed away, should the survivor go into long term care, the Local Authority may only assess the half share they own.
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, and that they only paid for the preparation of the 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.