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Planning for old age and care fees - fictional case study

Mr D is 72. His wife died suddenly six months ago and it's made him think about his own mortality. He wonders about the opposite of what happened to his wife – what if he needs long term care, like some of his older friends have?

What would we advise?

Unfortunately, it is too late for Mr D to make a protective property trust will. We would have advised Mr & Mrs D to consider making property protective trust wills before Mrs D died. In these circumstances, Mrs D’s share of their home would have passed into a protective property trust for the benefit of their children.
 
If Mr D then went into care this half share of the property would be fully protected for the children. Mr D does have the option of giving away his asset(s), but this does have consequences, under the deprivation of assets rules. A council can, for example, still take a gifted asset into account in assessing a person’s eligibility for care funding.

Contacts

Telephone
0113 254 9733

Pudsey Legal
Cringlebar House,
415 Bradford Road, Pudsey,
Leeds, LS28 7HQ

 


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