We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
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
-
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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.8K Banking & Borrowing
- 254.9K Reduce Debt & Boost Income
- 456.2K Spending & Discounts
- 248.3K Work, Benefits & Business
- 605.9K Mortgages, Homes & Bills
- 179K Life & Family
- 263.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.7K Read-Only Boards