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What I really need to know is how can I avoid the state using my half of the property for my full time care in the event of my wife dying before me as my daughters are in full time employment and would not be able to look after me. We both have wills already made out to the girls, but it is the half which can be used is what is worrying me as this is a lot of money which we have worked and saved hard for, for over 40 years. Is there any way that this can be avoided, and also how many years, after I transfer my share to the girls, does it need to be before it is safe from being assessed for care?
Hi If it is transferred purely for that reason then there is no time limit involved. There are various complicated and expensive trust options involved but frankly there effectiveness is uncertain as detailed here http://www.telegraph.co.uk/finance/personalfinance/insurance/longtermcare/10117822/Warning-over-care-home-trust-schemes-that-promise-to-protect-your-property.html I am sorry - but the simple fact is that at present there i sno certain way to achieve this Clare
If we sell our present property, and buy another in the names of my daughters, does all your facts in the answer still stand. If not, how would this work?