The Government’s attempt to tackle the crisis with paying for care could mean you will have to pay for all of your care costs if you have assets over £100k
It’s being called – THE DEMENTIA TAX!
So it could mean the following:
When you enter care OR now have care provided at home they will add all your assets up and this will produce a figure.
That’s the maximum fee your care will cost.
If you have a £250k property and £50k savings for example.
Your maximum fee would be £200k
At £1k a week that’s just under 4 years care. So for many this will be a real possibility as we are all living longer.
When you die your executors will be forced to sell your property to pay the Government their £200k!
£100k would then be left to distribute to your beneficiaries.
On the other hand:
If that property had been legally placed in Trust well before care was a consideration.
When the local authority conducted their assessment the property would have to be disregarded as it would not be solely owned by the person going into care.
£50k of savings would then be below the £100k threshold.
And as a result NO loss of assets whatsoever would be experienced.
Which would you prefer?
If EVER there was a time to put in legal Trust protection for your property surely it HAS to be now.
Thy Will Be done are and have ALWAYS been ahead of the game where protection of property is concerned.
Don’t get left behind
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