The Care Fee Swindle – We Have the Solution

update your will

The Care Fee Swindle – We Have the Solution Cornwall

As you age, the likelihood of needing ongoing care mounts. However, as society’s average age rises and care costs soar, protecting your home from these financial liabilities becomes paramount.

Is there a solution?

It’s unfortunate that in today’s world, an increasing number of people are falling into a trap where they must use their life savings and home equity to finance ongoing end-of-life home care.

The average cost for a week of care in residential homes currently exceeds £1000. This means the cost of nursing care can quickly erode one’s wealth.

Moreover, as the UK Government plans to increase the vulnerability of homes, many individuals are understandably concerned. Let’s improve the protection of homes instead of making them more susceptible to harm.

Although concerning, there are ways to prevent a family home from being sold to pay for care. With proper measures in place, you can provide necessary care without compromising your loved ones’ living spaces.

First Stage – How You Own Your Property Cornwall

When planning for care, it is crucial to begin by assessing your property and deciding where you want it to pass. Ownership structure plays a pivotal role in determining the property’s vulnerability during care assessment. Take time to consider this initial stage carefully.

It’s important to know that giving away your property won’t stop it from being taken to pay for care. However, you can still make sensible choices for non-care purposes. For instance, this might result in your house being safeguarded from inclusion as an assessed asset.

Ensure You have got a Decent, up to Date Will Cornwall

When it comes to estate planning, an intelligently crafted, well-structured will must be the cornerstone. Knowing what you have and how you’d like it to be distributed makes it far simpler to create a practical and effective plan that fulfils your objectives.

Dying without a Will can complicate and increase the cost of administering your property. It can also result in avoidable inheritance tax bills.

LPAs (Lasting Powers of Attorney) Are Vital

To minimise care costs, two documents are essential. These appoint individuals, who would like to become your caregivers. Without them, key decisions regarding your care and finances will be made by the social services or courts. It is essential to have these documents in place to make sure you have autonomy over your care.

Creating Powers of Attorney (POA) documents while you still have the capacity is crucial. Without them, your loved ones will have to go to court for approval to look after you when you lose capacity. Save everyone the hassle, make sure you have a POA document.

During this process, your bank accounts, which include joint ones, will be frozen.

This All Sounds Terrifying, What Should I Do?

If you haven’t taken precautions, your home can fall into the wrong hands. Thankfully, creating effective documents to safeguard your property and assign trustworthy caretakers doesn’t have to be difficult or costly.

The first step is booking a meeting and discuss your situation.

Let Us Get Together and Chat

Everyone has a different situation; therefore, it’s impossible for anyone to actually offer accurate advice without knowing and understanding your unique circumstances.

That’s why Trusted Will Writing offers a 100 per cent free meeting to discuss your situation in the comfort and privacy of your home. That informal and confidential meeting usually lasts about 60 minutes.

We will look at your estate value, your family set-up, and then listen to all your concerns whether that’s Powers of Attorney, asset protection for your kids, Inheritance Tax or Care Fees.

Also, We will explain exactly how the law works and help you make the best decisions in your family best interests.

You will only pay when you decide you would like to use the services of Trusted Will Writing in drafting your relevant documents.

Contact us to book a free meeting.