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Clare
Clare, Solicitor
Category: Property Law
Satisfied Customers: 33514
Experience:  I have been a solicitor in High Street Practise since 1985 with a wide general experience.
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If I own a property outright I cannot expect age care from

Resolved Question:

If I own a property outright I cannot expect age care from social services how do I avoid my home liquidized to pay for health care in later life.? My three children are in my will as recipients of my estate. Should I sign it over instead they are quite young?
Submitted: 1 year ago.
Category: Property Law
Expert:  Clare replied 1 year ago.
Hi
Thank you for your question
My name is Clare
I shall do my best to help you but I need some further information first
How old are you and how likely is it that you will need Care in the next ten years?
Clare
Customer: replied 1 year ago.
53 and I don't know.
Expert:  Clare replied 1 year ago.
Hi
How old are the children?
Clare
Customer: replied 1 year ago.
23,22 and 16
Expert:  Clare replied 1 year ago.
Do you currently have any health problems?
Customer: replied 1 year ago.
As there is no support I hide my issues. That is to say I would need to be half dead. On the other hand work is extremely stressful.
Expert:  Clare replied 1 year ago.
Hi
Realistically you are too young for this step.
There is no way of assessing what the position will be in 20 years time either in terms of what payments will have to be made - or what your personal position will be.
Creating a Trust at this stage will be expensive, have Tax implications and will hinder you should you wish to move in the future.
This is something you shoudl revisit in ten years time when the decision can be made based on the arrangements in force at that time
I hope that this is of assistance - please ask if you need further details
Clare
Clare, Solicitor
Category: Property Law
Satisfied Customers: 33514
Experience: I have been a solicitor in High Street Practise since 1985 with a wide general experience.
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