Day 8 New Year Resolution – Protect your assets from the Local Authority should you or your partner require Care in your old age
Posted by: Samantha Downs
Posted on: 13th January 2016
This should without a doubt be on everyone’s New Year Resolution list. On your death you are able to place your share of your home into a trust rather than pass it to your surviving partner. Should your surviving partner then require care, your share of the property isn’t swallowed up by the surviving partner’s care fees. Instead your share is protected and when your surviving partner passes away or stops living in your home, your share can pass to your named beneficiaries. Whilst this is only protecting half of the property, it’s still potentially saving you and your family from losing your biggest asset. Contact the Wills and Probate Department for further information.