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How to protect Your Home From Care Fees in 2023 in the UK?
40,000 homes a year are sold to pay for care in the UK every single year and it's completely unnecessary.
To protect your house from care fees in 2023, just do these three simple things.
Step one: Find out how you actually own your home
Step two: Consider changing the way you own your property from joint tenants to tenants in common.
Step three; Once you've changed the ownership structure from joint tenants to tenants in common, now you've got options.
1. Set up a will for each partner, and inside the will include a trust.
2. Set up lifetime trusts for each partner so that you can put your specific shares of the property into your trusts
Watch the video till the end to hear our BONUS tip that nobody is talking about.
If you want to know how to protect your home from care fees IN YOUR SPECIFIC SITUATION so that you can leave everything to your children:
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Or shoot us an email here: answers@mpestateplanning.co.uk
To check your property registration details online (£3 Government Fee) here's the link:
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0:00 How can I protect my Home from Care Fees in 2023?
0:12 Keep CONTROL of your Home with a Trust
0:29 What happens if you don't protect your home from Care Fees?
0:44 Introduction to Mike Pugh
0:59 Case Study: Hospitalization in Cardiff - How Social Services Deal with the Elderly in the Hospital
1:50 How Can You Protect Your Home from Care Fees?
1:57 Step 1: How do you Own your Home?
2:41 Step 2: Consider changing the way your own your home from Joint Tenants to Tenants in Common
3:06 Step 3: Use either a Will Trust or a Lifetime Trust
4:38 How Long do Trusts Last for in England and Wales? (125 years)
4:55 Lifetime Trusts are more Expensive than Will Trusts
5:10 There are normally many good reasons for a family to set up a Trust
5:53 You must be fit and healthy when setting up a Lifetime Trust
6:20 Bonus Tip
6:41 Outro
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