It is a common concern that the value of your property may be lost or reduced if you go into care and have the burden of care fees to pay. Irwin Mitchell can offer advice and guidance on how to mitigate that risk and take positive steps to ensure that as far as possible the value of your house is preserved for you and future generations. There are a variety of ways in which this can be achieved, including taking action in your lifetimes, or alternatively by carefully structuring your Wills. It is often the case with a married couple that whilst both are alive they are able to take care of each other at home and it is when one party dies that the survivor has to go into care at some point thereafter. For that reason the inclusion of a Property Trust within your Will may well be the best option in terms of protecting your assets.
IMPORTANT: This type of Property Trust Will is only suitable for couples – married, co-habiting partners or civil partners who either jointly own their property or who are willing to hold their property in joint names. Furthermore, the property you own must be held as Tenants in Common. If you are not sure how you own your home or own it in any other way, Irwin Mitchell may have to undertake further work on your behalf for an additional fee.