One of the most common questions we are asked by clients is “How do I protect my assets if I ever need to go into a care home?” Unfortunately there is no simple answer to this.
The honest answer is there is absolutely no guaranteed way to avoid care charges completely. The average cost of care in Scotland is currently equates to just under £40,000 per year. In certain circumstances, the local authority have the right to force a sale of your property in order to make you pay for your care.
You want to protect your home – you’ve worked hard all your life to own it, and you want to be able to give your own children or relatives the benefit of what you’ve built for them. You don’t want your family to have to pay taxes unnecessarily on your estate. So it’s never too early (or too late) to start planning for the future - whether it’s your own, your children’s or indeed your own parents’.
At Stevenson Marshall we understand, and we can guide you through the complexities of estate planning to help you protect your assets well into your later years providing both for your own needs and your family’s future.
Whether it involves making a carefully designed Will, setting up a trust, or making changes to the title of your family home during your lifetime, we can give you the best independent advice on how to protect your assets and leave your family well provided for during your life and thereafter.
Speak to us today - there are solutions and our highly experienced solicitors will guide you through the process.