caring for the elderly .
Planning for peace of mind in old age can’t start too early. You may not have to worry about Inheritance Tax but sooner or later you may need to pay for residential or nursing care. This can quickly deplete your assets. For many people their house is their main asset. They are therefore understandably concerned whether they may be forced to sell it. There are legitimate estate planning arrangements that can help. Below we have set out some common questions about lifetime gifts and care fee planning. Don’t worry if you don’t know the answers – we do, and can help you plan for peace of mind. Many people think that they can avoid care fees by giving away their house or assets. Before you give away your estate, ask yourself some important questions: • If I make a gift, can I change my mind later if I need some capital? • If I give my home away, can I get it back or can the recipient sell it without my consent? • What happens if the recipient of a gift dies before me? • How can Trusts help? If I need residential care and I’ve given everything away, who pays? • Can I be refused residential care if I have no money or property left? If you’re unsure about the answer to any one of these important questions, contact our Wills Probate Trusts unit for more information. With the help of Archers Law, you’ll arrive at the best solution for your care and financial security.
T 01642 636 500 F 01642 636 501 www.archerslaw.co.uk
Archers Law LLP, Lakeside House, Kingfisher Way, Stockton on Tees, TS18 3NB DX 721030 Stockton 3
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