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Talk of raising the cap on care home fees
Comments
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"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »Quote:
Originally Posted by Errata
This indicates a couple will still be left with a good chunk of a quarter of a million quid the government won't touch.
I know this was rumoured did it actually start to happen?
I think it's being planned but hasn't been finalised or implemented yet.
There was also some talk about a cap on total care home fees (£30-40K?) that people would be expected to pay before the state takes over the cost. again, that hasn't been implemented yet, if it ever does.0 -
grizzly1911 wrote: »
are you serious or what?
unless of course you were illustrating the absolute depth of total incompetance, ignorance and scaremongering of the BBC0 -
One council I know are really going after these trusts and many are rather shaky. Quite a lot were referred to in the sales literature as property protection trusts which in effect makes them invalid in avoiding care fees.HAMISH_MCTAVISH wrote: »It's already the case that assets can be protected entirely legally through putting them in a trust.
By spending a few grand in legal fees, anybody can protect their house and make it exempt from claims for care home fees later in life, provided they do it far enough in advance that the primary reason is not seen as avoiding care home costs.0 -
One council I know are really going after these trusts and many are rather shaky. Quite a lot were referred to in the sales literature as property protection trusts which in effect makes them invalid in avoiding care fees.
The council can go after anything they like.
They'll lose, so long as the trust was set up correctly and the primary reason for setting it up was not to avoid care home fees.
Acceptable alternative reasons include.....
- avoiding probate costs and delays
- protection of assets from untrustworthy relatives
- sheltering assets from the chance of liabilities incurred by children or partners.... Ie, children divorcing shortly after parents death
I am not aware of a single case anywhere in the UK where a council has managed to obtain assets legitimately sheltered in an asset protection trust that was set up correctly.
I am aware of many instances where they have tried and failed miserably, incurring enormous expense for the taxpayer in the process.
As far as I know, most councils have now stopped trying in all but the most flagrant abuses of the trust system, after so many incurred such great expense trying and failing.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
I know of 2 successful cases with a South London council. I believe the trusts had been set up within a fairly short period of the care being required. The council in question are currently considering taking on a lawyer specifcally for this as they think it could be cost effective.0
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I know of 2 successful cases with a South London council. I believe the trusts had been set up within a fairly short period of the care being required. .
So then not set up correctly.
If you wait until you know it is likely you will need care, then the primary reason would be assumed to be deprivation of assets, and the trust can be overturned.
Those cases are not relevant to my earlier post.
If you set up a trust when you are fit and healthy, have no reason to assume you'll need care, and the primary purpose of the trust is another reason, they are essentially bulletproof and the council can jog on.
Not only that, but the big law firms specialising in these trusts are so confident as to their legal standing, they will aggressively defend any action taken against the trust at no cost to the trustee.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
True, but many of these have been set up by local solicitors or will writing companies. These will not attempt to defend at no cost.0
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HAMISH could set up as an age concern advisor if he ever gets sick of pwoperdee ramping.
i genuinely wonder if, deep down, naked, daftly transparent & otherwise incoherent, self-interest aside [i.e. ignoring 99.5% of what he posts] he might genuinely believe that the elderly are more virtuous & deserving than other segments of the population.FACT.0 -
True, but many of these have been set up by local solicitors or will writing companies. These will not attempt to defend at no cost.
Isn't timing the key factor? Leave it too late and you are on a hiding to nothing?"If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0
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