Thank you for your question
My name is Clare
I shall do my best to help you but I need some further information first
To check - when one dies their half goes to you and your sister is that correct?
Are you sure - that does not protect the property in any way - I would have expected than the surviving spouse would simple have the right to use the other "half"?
I thought you said that a Trust had been created?
In fact there are few ways of defeating a claim in respect of Care Home fees.
There is a way of protecting 50% of the property however.
This is done by "Severing the Joint Tenancy" so that they each own 50% of the property.
They then make Wills leaving their share to you and your sister whilst giving the survivor the right to remain in the property for so long as they wish.
When the first to die goes the survivor can remain in the property (or downsize provided the Willis well drafted) but half of the assets is protected from any subsequent fees.
This is the only effective way of protecting any part of the house I am afraid
Please ask if you need further details
Frankly even setting up a full trust where the property is no longer in any way under their control may NOT be effective as the law currently stands as the settlement is subject to challenge - and of course it would leave your parents entirely dependant on the Local Authority in terms of their choice of Nursing Home
That will not work unless you actually pay full price for your share.
Otherwise the Local Authority can simply work on the basis that the whole value is available for your parent before taking over payments
No I am afraid not - protecting half is your best option