Equity release / protecting asset

adam68

Hi all,

I am posting on behalf of my mom, who has some worries and questions. I'm not sure which sub forums is the best, but here goes.

My parents had a mirror will, which stated the estate, including a fully paid house, goes to the remaining parent, then to three children after the remaining parent dies.

My dad passed 2 years ago, so my mom now live in the house, and it is in her name.

She is now very worried, as dementia and alzheimer's runs in her family (my nan currently suffering) and she is aware that if this happens to her, then her estate will be means tested and used as payment for her potential care home fees.

She is so worried about this happening, and her 3 children losing any inheritance, that she wants to know the best way to protect it, or ensure her 3 sons have at least something from the house.

I've personally looked into this, and don't see how she can protect the house if she did indeed become mentally incapable and needed a care home.

She is currently looking at equity release, as a way to have some money herself for home upgrades, and a way to give some "Inheritance" to us.

What would your advice be? We've all told her not to worry about the money, but she just wants some clarity on the situation.

Thank all.