It’s easy to shy away from thinking about long term care, because we don’t expect to ever need it; however, up to 1 in 3 people will need formal care at some point in their life.
The unfortunate truth is that if you are not prepared for the possibility of paying for your own long term care, then you could sadly face having to sell your home or other assets that you hoped to pass on to your loved ones in order to make the payments.
Although local authorities do have the power to provide long term care to those who need it, this service is heavily means-tested and can often results in those most vulnerable being left without the support they need.
Don’t put the assets you’ve worked so hard for at risk – take out a Protective Property Trust Will.
This Will is designed to ensure you retain ownership of your share of your home, which you can then pass on to your loved ones without difficulty. The protection that this trust offers means that if your partner has passed away and you later need long term care, your partner’s share in your property cannot be used to pay the bills for your care. In essence, a Protective Property Trust Will puts control of your property back in your hands.
If you don’t consider long term care when planning your estate, your family’s inheritance may be under threat.
To arrange your free consultation with Taylor Hall Financial Services
Contact us on 0191 516 1045 today.