fbpx
 

About Estate Planning

Why It's Important & Why You Should Act Now.
estateplanning10

A Growing Crisis

“My mother is 87 years old and has only made one big mistake in her life: to heed the advice of the State and save for her old age. She didn’t drink, didn’t smoke and was frugal with her earnings.

But three years ago she was diagnosed with dementia and is now paying nearly £1,000 per week in care.

The mental anguish this has caused her is nothing short of a scandal.”

– Steve Curd, Epsom, Surrey (source Daily Mail, 17th July, 2019)

“My wife was diagnosed with Alzheimer’s in early 2006 and I cared for her at home until I had to seek professional help in 2011. It was the worst decision I have ever had to make.

She passed away in 2016, after we had paid £121,276.16 in fees — while a friend’s mother, who had no savings, paid nothing.

Where’s the justice in that?”

– Tony Mansfield, Stanton, Suffolk (source Daily Mail, 17th July, 2019)

Estate Planning Looks At ALL Of Your Asset Protection Options With A Long Term View.

Many people are blissfully unaware as to whether or not they will need to pay for care fees in their future and the future of their loved ones. Many of us, quite naturally, would not stop to think that they may suffer from dementia in later life. It’s common not to worry about these issues until it’s too late.

Currently, the law in England states that any person with more than £14,250.00 worth of capital assets (savings, property, etc) will need to pay towards their care fees and those assets will be means tested by the Local Authority.

Why not just give away your property to your children? Your Local Authority could decide that you have given the house away deliberately to avoid paying care and assess you as if you still owned the house.

Local Authorities will review your assets and gifts you have made going back many years to calculate your care cost contributions.

With the right guidance, it is possible to put plans into place that can protect your estate from care fee assessment.

estateplanning5

Find peace of mind with an estate plan
that protects your assets and your family.

footerlogo
LegalTeam

Team of Experts

You’re in great hands.

This is a very complicated part of law as there will be lots to consider.You should consult with a solicitor that specialises in this field of law – That’s where we come in. We will look at your specific family, health and financial situation and offer genuine legal advise to you as an individual as to what your options are.

Any recommendations will be supported by a written report and you will then have time to consider how you wish to proceed. You are not under any obligation to use our services at any time.

The Estate Planning team here at Estate Planning UK will be happy to advise you on estate planning and care cost protection, so to discuss how we can help you personally or a loved one please use the contact form below.