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By mosie
19 March 2008 00:02
How can I protect my home against being sold in the case of needing nursing home care? I have two daughters not living at home and my husband has MS and could not live alone if anything happened to me.
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How do I protect my home if I need nursing home care?
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steve@apww.co.uk says
There are two types of legal planning which might help - but you probably won't get away with it, as your husband has already been diagnosed, and this sort of plan should be put in place beforehand to avoid allegations of "deprivation of assets." 1) The Protective Property Trust (cost - around 2 or 3 days care fees) - your home is divided into halves, with each of you owning your own half, and leaving your partner the lifetime right to live in it, before their shares goes to the children on your death. Your share would be protected against being sold by the Council to pay Care Fees. Your husbands share would be at risk, however. 2) The Home Protection Plan (cost - around 3 weeks care fees) - your entire home is put in a Trust which should give total protection, whilst allowing you to retain control. As I said, in your case, there is a very good chance the planning would be challenged though it is a tolerable gamble! There is a free booklet available at www.Asset-Protection-Secrets.co.uk Steve
There are two types of legal planning which might help - but you probably won't get away with it, as your husband has already been diagnosed, and this sort of plan should be put in place beforehand to avoid allegations of "deprivation of assets."
1) The Protective Property Trust (cost - around 2 or 3 days care fees) - your home is divided into halves, with each of you owning your own half, and leaving your partner the lifetime right to live in it, before their shares goes to the children on your death. Your share would be protected against being sold by the Council to pay Care Fees. Your husbands share would be at risk, however.
2) The Home Protection Plan (cost - around 3 weeks care fees) - your entire home is put in a Trust which should give total protection, whilst allowing you to retain control.
As I said, in your case, there is a very good chance the planning would be challenged though it is a tolerable gamble!
There is a free booklet available at www.Asset-Protection-Secrets.co.uk
Steve
19 December 2008 21:03
Fodla says
You need good legal advice. This is a very difficult subject and one you need to consider carefully.
13 October 2008 11:11
