Once again Government stalls over the provision of care for the elderly. In it’s latest utterings there is a possibility of capping an individuals contribution to care home fees at say £30000. It is even suggested that loans be made available to elderly persons who have to go into care and these would be repayable after death plus a rate of interest at say 4%pa. The argument here is that homes would not have to be sold whilst the individual was still alive.
No positive way forward has been agreed and the position remains the same, certainly for the length of the present parliament. The only safe answer is to ensure your Will is properly drawn up to protect your property. For married couples a properly drawn Will ensures that at least one half of the value of the main residence can be sved and passed on to loved ones. In the majority of cases it can rescue the whole value for inheritance. A Property Protection or an Asset Protection Will is vital for all who own property and wish to bequeath it to family and loved ones. For single persons who own property and wish to protect it then consideration should be given to a Lifetime Property Protection Trust which ensures succession to ownership by future generations.
With the law at present a Will or a Trust are valuable weapons to oppose the threats to inheritance.