Don’t lose your home if you go into care

It is estimated that a quarter of people over the age of 60 years will end their days in care and, with better healthcare meaning we live longer, this will only rise.

The threshold for council support with care home fees is having assets of £32,750 or less and, worryingly, your house is classed as one of your assets. It can be taken from you to cover care costs.

However, with proper planning, ILAWS can help you legitimately protect your home from covering your care home fees, and allowing it to be passed to your children, as you would wish.

To find out what your options are, the first step is to call ILAWS on 0800 049 9688. They will then set up a free, no-obligation appointment with you. You may be able to set up a Protected Property Trust.

A Protected Property Trust is ideal for couples who own their own home. Placing your home in a trust safeguards your property and protects it. The benefit of a property trust is that both you and your spouse/partner continue to own your home and, when one dies, then the survivor can continue to live in the house until they die. To find out what suits your circumstances best, contact ILAWS.

Another option is a transfer, which involves legally transferring ownership of your home to someone, such as your child/children. It is NOT possible for them to sell while you are in the property. It simply allows you to remain in your own home and prevent it from being counted as ‘an asset’ when or if you need to go into a care home. Although a timescale here may apply.

If you would like to arrange a trust or transfer, call ILAWS today on the number below or visit ILAWS’ website to find out more at ilawsscotland.co.uk/ppt