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    UK home owners should read this.

    UK home owners should read this. You are worried that you may need nursing home care in the future, when your local authority may have the right to sell your home and use the proceeds to meet the costs of your care. Don't be, get a 'Protective Property Trust' in your Will that way your property cannot be taken by the local authority for care home fees. You will also need to look into 'Tenants in Common' if jointly owned.

    The Protective Property Trust (also known as a Life Interest Trust) - a very useful addition to you Last Will - as long as you don't delay:

    You may wish to include a Protective Property Trust in your Will if:
    1) Your family contains children from previous relationships and you want to ensure fairness for them without disadvantaging your spouse or partner. Or you may think it likely that your spouse will remarry after your death, and wish to protect the interests of your children against any future relationship, without harming your spouses' interests.
    2) You and your spouse or partner are concerned that you will be one of around 70,000 people who lose their inheritance to the Local Council through Community Care Tax - the most vicious tax of all which can wipe out all but the last £12,500 of your estate.

    · You do not wish to leave your share of your property to your Partner but wish to give them the right to live in the property for the rest of their lives, before the property passes to your children.
    A Protective Property Trust in your Will can contain a provision that upon your death, your share of the property is put in trust allowing your partner to continue to live in the property for his/her lifetime, but upon his/her death, to be given to your children or other preferred beneficiaries. In this way, you can make provision for your partner, whilst protecting your share of the property for your children.

    · You are worried that you may need nursing home care in the future, when your local authority may have the right to sell your home and use the proceeds to meet the costs of your care. You cannot transfer your property to relatives to avoid paying nursing home fees, without falling foul of the law, but you can include a Protective Property Trust in your Will, containing instructions that upon the death of you or your spouse, that half share of the property is put in trust for your children, instead of passing direct to the surviving spouse. In this way, the half share of the property that has been put in trust is protected and the surviving spouse may continue to live in the property. That half share is sheltered from your local Councils Community Care Tax, levied on those needing long term care who have assets over £12,500. On the death of the surviving spouse or partner, the half share of the property owned by the trust can be given to the children.

    How your property is owned
    Most homes are held as Joint Tenants:
    Joint tenancy - is where the parties own a property together and upon the death of one person the property automatically passes to the survivor whatever the will says.
    Tenancy in common - this is where each person owns part of the property in their own right and can leave their share to whoever they like. This allows more flexible planning for Asset Protection (such as against Community Care Tax) and Inheritance Tax.
    Best wishes

    Jeannie

    Please donate and share forever grateful xx Please see the link https://www.gofundme.com/83tq5j-help..._co_campmgmt_w
    ______________________________________
    ALS onset June 2000, dxed July 2001, I am 40 yrs old.
    Living and loving everyday regardless of ALS although I do have my down days.
    I'm singing and dancing inside!

    #2
    Hi jeannie

    What a star you are ,just the sort of news i needed , just been putting our wills together and this is going in for certain ,thank you so much .

    Regards

    pete

    Comment


      #3
      Hi Jeannie,
      Another thing to think about is getting assessed as being eligible for NHS continuing care. If you become eligible for this then the NHS are responsible for your care costs while you remain at home but also your costs if you have to go into a care home. This is not means tested in any way so the contract for fees is with the NHS and so no obligation by you can arise and therefore no charge on your estate. Everyone with MND should become entitled to NHS continuing cae but the NHS are reluctant to admit this. It seems that to determine eligibility has to be an individual struggle rather than an individuals automatic right.
      A disgraceful way for society to treat the terminally ill.

      John

      Comment


        #4
        Hi Jeannie,

        I am new to the forum and one of the top things to do on the list is getting the will written as my wife and I don't have one. This will certainly be mentioned when i speak with the solicitors this week!

        Many, many thanks,

        Scott

        Comment


          #5
          Your welcome guys.

          Hi John,

          Good point re: CHC, it would be great if everyone could get granted it, however like most things councils are reluctant to give it grrr
          Best wishes

          Jeannie

          Please donate and share forever grateful xx Please see the link https://www.gofundme.com/83tq5j-help..._co_campmgmt_w
          ______________________________________
          ALS onset June 2000, dxed July 2001, I am 40 yrs old.
          Living and loving everyday regardless of ALS although I do have my down days.
          I'm singing and dancing inside!

          Comment


            #6
            Bump for newbies
            Best wishes

            Jeannie

            Please donate and share forever grateful xx Please see the link https://www.gofundme.com/83tq5j-help..._co_campmgmt_w
            ______________________________________
            ALS onset June 2000, dxed July 2001, I am 40 yrs old.
            Living and loving everyday regardless of ALS although I do have my down days.
            I'm singing and dancing inside!

            Comment


              #7
              Hi Jeannie,
              I ain't been on here for a couple of weeks, and i opened up and saw what you have written. So thank you for that, i was trying to find a way round those money grabbing councils. Now i can leave my part to my children and grandchildren.

              You are a star, thanks....Derek

              Comment


                #8
                Your welcome, Derek x
                Best wishes

                Jeannie

                Please donate and share forever grateful xx Please see the link https://www.gofundme.com/83tq5j-help..._co_campmgmt_w
                ______________________________________
                ALS onset June 2000, dxed July 2001, I am 40 yrs old.
                Living and loving everyday regardless of ALS although I do have my down days.
                I'm singing and dancing inside!

                Comment

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