Like many people, after a lifetime of hard work it may be that the family home is your major asset - one which you hope to pass on to the family. Yet you know that if you have to go into Residential Care the fees of hundreds of pounds per week might make it all disappear. Current figures suggest that there is something like a 1-in-3 chance of these fees affecting your family’s inheritance - but your Wills can improve things.

Any couple (whether married or not) can arrange Wills to protect at least some assets against the fees. Rather than simply leaving everything to each other, you leave your share of assets to a Life-Interest Trust. The exact terms of the Trust will be specific to your instructions, but usually they allow your widow(er) to have the use of the assets - most typically it allows them to carry on living in your share of the family home just as if they owned the whole property. Normally this includes being able to sell the house and buy a replacement in the usual way.

However, if the house is simply sold then your widow(er) can only use their half of the money as they wish - such as to pay for their own residential care, or indeed to spend it, or give it to their new spouse/partner. Your half of the assets is still owned by the Trust, protected according to the terms you specified and typically letting it be passed on to your family.

This is becoming increasingly common practice, and InHouse, Wills & Probate can arrange this for you. We also check the details of how your house is owned, in case Severance of Tenancy is required to make your Wills effective.