Avoiding Care Home Fees Tenants In Common

They claim that changing the ownership of the.

Avoiding care home fees tenants in common. Propose to cap care home fees at 72 000 per person but this is based on the notional amount a local authority will pay. They claim that changing the ownership of the property and making children beneficiaries in a will means the property will be protected should the parents have to go into care. By changing the ownership to tenants in common the first spouse to die could bequeath their share to whoever they like perhaps their children or into a trust so that the survivor has the right to continue living in the property for life then if the survivor were to need to go into a care home they could only be assessed as owning a. Q i have been approached by a firm promoting tenancy in common as a foolproof method of avoiding having to sell my property to pay for care home fees.

However you should only enter into an arrangement if you and your spouse partner are entirely comfortable with the situation since there may be difficulties. The cap does not cover board and lodging costs which will have to be paid on an annual basis probably around 12 500 p a.