Sometimes, as part of making your Will, you can alter the ownership of your house to hold it as Tenants in Common and then give your share of the house to your children and grant the survivor of the couple a rent free right of occupation of the property. This is as opposed to owning, as most couples do, as Joint Tenants.  This can assist after the death of one of you if the survivor goes on to need nursing care, as they only own half of the value of the house. The survivor is then assessed on their half of the value, and the other assets they hold.

It is important in taking this step to make sure that the right for the survivor of you to still live in the house are fully safeguarded however, and it is therefore essential to accurately reflect this in your Will.

It is also crucial to stress that with property prices these days, even a partial ownership of property will usually mean you are above the level where you would have to be self funded if ever you needed care.