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Aston Lawyer
Aston Lawyer, Solicitor
Category: Law
Satisfied Customers: 10737
Experience:  Solicitor LLB (Hons) 23 years of experience in Conveyancing and Property Law
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My husband and myself are considering taking out a family protection

Customer Question

My husband and myself are considering taking out a family protection plan with Golden Charter, putting in our house valued about £130.000.
We are both 76. in reasonable health and our will is simple - two daughters as beneficiaries.
Is this in our best interest? How dependable are Golden Charter?
Submitted: 4 years ago.
Category: Law
Expert:  Aston Lawyer replied 4 years ago.
Hello and thanks for using Just Answer.

My name is Al and am happy to assist you with your enquiry.

Just so that I am clear, exactly what type of plan are you intending to proceed with? Is it for the purposes of avoiding potential Nursing Home fees?

Kind Regards
Customer: replied 4 years ago.

The plan involves putting our property into Golden Charter trust for a fee of £4950.
For this one off fee they will deal with probate,

our will, etc, and if we sell the houses we can deposit the money with them and have an income which would help us to pay for sheltered housing, if necessary.

It would also mean that should we require care the local authority will not be able to take the value of the house into consideration for care home payments because we are only Trustees not owners, therefore the money stays intact for our daughters. Is this true/ legal/ honest/ practical for us/


Expert:  Aston Lawyer replied 4 years ago.

Hi there,

Thanks for your reply.

I'm afraid to say that there is no guaranteed "Trust" arrangement that you can set up which will guarantee that your home is not taken into account when assessing your capital for Nursing Home fees.

For Nursing Home purposes, the State can still treat you as owning your home, even though you are merely "Trustees" if it can prove that you have set up the Trust to avoid payment of such fees. If Golden Charter set this Trust up for you, it will be pretty easy for the State to show this was your intention/reason for setting up the Trust.

Sadly, there are plenty of clients who have spent thousands of pounds setting up such Trusts with non regulated Companies.

I can not therefore advise you to proceed with your Plan- the best advice I can give you is to go to a local Wills Solicitor and he/she will be able to confirm the above to you, as well as providing proper advice as to how you can safeguard at least half of the value of your home for Nursing Home purposes, by amending your Wills and leaving your respective half share to your Daughters.

This will cost you approximately £500, not £5,000 and entails you both owning your property as "tenants in common" and leaving your half share to your Daughters, with a proviso that the surviving spouse can remain living in the property for as long as he/she wishes.

I hope this assists you and am sorry if I have come across rather abrupt, but it does frustrate me that there are Companies out there promising the earth (especially as they are not regulated like us Solicitors) and charging the earth, for a result they can't guarantee.

Kind Regards

Expert:  Aston Lawyer replied 4 years ago.

Hi Christine,

Can I be of any more assistance to you?

Kind Regards
Customer: replied 4 years ago.

Thank you . I thought it seemed too good to be true! I'll act upon your advice, and save myself £5000!

We have tenants in common, but need to make a new will now.


Christine Wooldridge.

Expert:  Aston Lawyer replied 4 years ago.

Hi Christine,

Many thanks.

All the Best