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house trust fund
alan&carol
Posts: 1 Newbie
My parents are 79 and 82 years old and are thinking of putting their house and finances into a house trust fund primarily to avoid any future possible care home costs under Scottish Law.
Anyone got any experience or advice on this matter? As i understand it they become trustees of their own trust with named beneficiaries and this should secure their money.
Anyone got any experience or advice on this matter? As i understand it they become trustees of their own trust with named beneficiaries and this should secure their money.
0
Comments
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This would appear to be a case of deprivation of assets and they should proceed with great care.Have a read of this
http://www.careinfoscotland.scot/topics/care-homes/paying-care-home-fees/deprivation-of-capital/0 -
http://www.solicitorsforolderpeoplescotland.co.uk/guides/Guide-To-Planning-for-Care-Costs.pdf
Dated around three years ago but you will note the warnings about DoA.0
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