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Death is a special occasion
kingfisher2_2
Posts: 1 Newbie
Hi I read an article by Martin Lewis some time back called
five unpleasant truths of ageing He touched on several aspects of what can happen to your money if you do not set out your wishes but can some one please tell me how I can prevent my home (now downsized as he suggested we might do) from being sold in order for my old age care costs to be covered thus leaving nothing for my children ? :A
five unpleasant truths of ageing He touched on several aspects of what can happen to your money if you do not set out your wishes but can some one please tell me how I can prevent my home (now downsized as he suggested we might do) from being sold in order for my old age care costs to be covered thus leaving nothing for my children ? :A
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Comments
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You would need to see a solicitor with experience in this type of issue - look fir one who is a member of 'Solicitors for the Elderly' and of STEP.
There is no perfect answer. There are steps you can take which may (timing is important) reduce your potential liability, but there may be disadvantages - for instanace, you could make lifetime gifts to your children, but then the money is theirs, not yours, and you can't claw it back if you need it.All posts are my personal opinion, not formal advice Always get proper, professional advice (particularly about anything legal!)0 -
A similar question was raised in this thread:
https://forums.moneysavingexpert.com/discussion/4911364Smiles are as perfect a gift as hugs...
..one size fits all... and nobody minds if you give it back.☆.。.:*・° Housework is so much easier without the clutter ☆.。.:*・°SPC No. 5180
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