The current average cost of Residential Care in the West Midlands is now over £30,000 and it is estimated that around 1 in 4 of us will need full time care by the age of 75. Under current legislation, anyone with assets (including their home) has to pay for their own residential care. Giving your property away or selling it at below market value does not avoid this as it is deemed ‘deprivation of assets’. The local Authority will therefore still be able to use the value of the property to pay for your care.
Making a Property Trust Will can help to protect your home against care fees. Contact Benson Williams today for a free, no-obligation consultation.