There are an awful lot of ‘urban myths’ about what happens when an individual gets to the stage where they cannot manage at home anymore and therefore need professional care in a nursing or care home.
There are also a lot of different ways that you can take steps to safeguard your assets against inclusion in calculations for assessments towards fees.
We are under no illusions – this is a highly emotional and sensitive area of law. Everyone has an opinion on whether it is right or wrong that whilst some people who might need nursing care in later life have to pay fully for it, whilst others who get the same level or care may have it fully paid for.
But there are a number of steps that can be taken to minimise the exposure of your assets to this risk, and here at MKB we are more than happy to sit down with, explain in full how the system works and how you would be assessed for payment of care costs based upon the assets you have, and the steps that you can take to minimise the impact of this on your family.
Some of the more common methods people use are:
By your Will
By giving away your house