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How to avoid care home fees.

As someone becomes aware that they are going to have to sell their home and use the money from it to pay for care home fees; they then start looking for solutions.

You will find that there are an increasing number of people and companies who will claim that they can provide you with "the solution" that you need to help you avoid paying care home fees.

It may involve the use of a Will, a Trust, an investment or insurance.

Don't be fooled!

The problem that you are seeking to avoid has been around for many decades.

As home ownership has increased and average families now have more wealth than ever before; the process of means testing has also developed and evolved.

Just in case you are unaware of why you may find yourself having to pay for care home fees; it is because of a process called means testing.

Means testing doesn't just happen. You are actually subject to the means testing process from when you first become an adult.

If you find yourself out of work, claiming benefits, seeking financial help from your local Council or the State; you will be subject to means testing.

As you acquire assets, such as property, you are then caught by the process of means testing as you become older. Because you own your property, you have wealth. And it is this simple fact that leads to you having to pay care home fees.

However simply getting rid of that wealth is not the answer to dealing with the means testing problem.

First there are the practicalities. Most people like owning their own homes and being able to live in them as long as they can.

Then there are the realities. If you try to give your wealth away to avoid paying care home fees then it simple doesn't work.

Means testing has a couple of ways to prevent you from doing this.

First there is the Deprivation Of Assets rules. Even if you have given away your wealth you can be treated as if you still own it.

Then there is the Deprivation Of Income rules. You can be assessed for income from assets, etc. and treated as if you have that income.

Means testing is not a process that likes to be cheated easily.

Then there is the simple rule: If the purpose of your actions is to avoid paying care home fees then the actions you have taken can be undone.

Ignore this simple rule at your peril!

Finding yourself in the position where you do not have to pay care home fees is not a simple process.

It has to be done legally and with the right intent!

Many people will be caught out in the years to come as Councils begin to apply the rules more consistently and stringently.

To control your own wealth long term takes careful planning and you need to have a different approach to the long term use of your own wealth. You also need to take action as early as possible.

If you are about to go into care; then you have almost certainly left it too late to take effective action. There may be limited actions that you can take but you would need to speak to a specialist about this.

Dealing with problems that means testing can cause with managing and using your wealth long term; requires a more long term solution that you have to put in place early - As early as practically possible!

Why not speak to an expert in this area and contact us!

Our Solution allows someone to begin planning and taking action with their wealth from the age of 55 onwards because early action is essential.

To speak to a Consultant please use this link: Speak to a Consultant.

Or simply fill out the form below and we will contact you. Alternatively you can find our contact details by following this link Contact Details.

To find out more about why early action is important please click on the links below.

What causes people over 55 to lose wealth?

Why people lose their wealth?

Power Of Attorney, Will & Trust

Retirement Planning

Managing Longer Term Conditions

Inheritance Tax Planning

Why I developed this Solution.