Hello Frances and thanks for using Just Answer.
My name is ***** ***** am happy to assist you with your enquiry.
You are indeed correct in all you say.
If one spouse goes into a Nursing home, but the other remains living in the proeprty, the half value of the property is not taken into account when calculating the capital amount for the spouse in the Home.
Likewise, if the property is sold after the spouse who is in a Home has died, their half share can't be retrospectively "claimed"
It is only if both spouses go into a Home or the property is sold while the spouse(s) are in a Home would the value of each spouse's half share be taken into account.
Free advice- to reduce any potential Nursing home fees, you should change the way you hold the proeprty so you are "Tenants in common" meaning you both own a separate 50% share each in the property. You can then both make a Will, leaving your 50% share to your children, if you have any, with the proviso that the surviving spouse can remain living in the proeprty for however long they wish. This will then mean that if the surviving spouse ever has to go into a Home, he/she
is only classed as owning 50% of the proeprty, as opposed to 100% if the property had been held by you as Joint tenants and in which scenario, the whole of the property passes automatically to the surviving spouse. Thus, if the surviving spouse ever has to go into a Home, he/she will only be assessed as owning 50% of the property.
I hope this helps you and answers your question.
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