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  • FIRST POST
    Veryannoyed
    Putting home into family trust to avoid nursing home fees
    • #1
    • 15th Dec 11, 9:23 AM
    Putting home into family trust to avoid nursing home fees 15th Dec 11 at 9:23 AM
    I'm afraid I'm not prepared to lose my only asset, my home, to pay nursing home fees so I'm considering putting it into a family trust with my children as the beneficiaries.

    Does anyone have experience of this and the pitfalls?

    We're already likely to lose my mother's home for this reason (her fees are £46,000 a year) and if there is a legal way of making sure our children inherit all we have worked so hard for over the years then we will take it.

    The PCT / social services have been entirely ruthless in the way they have dealt with the family over my mother's case and although we did achieve full funding for her for a while it was quickly removed.

    I'm going to be equally ruthless in preventing them from getting their hands on my hard earned cash.
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    • twokcc
    • By twokcc 14th Sep 15, 9:33 PM
    • 222 Posts
    • 92 Thanks
    twokcc
    I think most councils will now assess you as having in capital 50% of the market value of the house, set up a deferred payment scheme and reclaim the money when the house is sold or the client dies.
    Originally posted by Mojisola
    Agreed did this for mum but never signed deferred payment plan bills got up to about £30k. Just persisted with discussion about worth of 50% of house, council eventually agreed and all deferred payment "invoices" cancelled.
    • Poppy18
    • By Poppy18 10th Oct 16, 5:53 PM
    • 2 Posts
    • 0 Thanks
    Poppy18
    How did you get on
    Hi, I'm interested to know how this worked out for you as I have been looking into setting up a Trust for my children/grandchildren. I would like to know whether it is legal or can be challenged.

    Best wishes
    • Poppy18
    • By Poppy18 10th Oct 16, 5:56 PM
    • 2 Posts
    • 0 Thanks
    Poppy18
    I have been looking at a company called The Will Be Done on this subject. Have you set up a Trust yet and how did you find the process?
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