Your assets – property, savings and income –are included in your care home fees assessment test. You can reduce the value of your property and capital if,
You set up a trust
Repay past debts
Purchase lifetime bond
Life expenditure
Individuals dispose of their assets so that the local council doesn’t include the value of those assets in the financial assessment. However, authorities are looking keenly at such property disposals to check whether it was done with an intention to avoid home care services fees.
To get a better idea about the average care home fees UK, and whether a care home can take all your savings, we suggest you consult our experienced solicitors who can guide you into making the right decision for you and your family.