Asset Protection and Care Costs

I am increasingly being asked by clients for help in safeguarding assets from being used to pay for long term care, so they can be passed on to family after their deaths. I am finding that reviewing and rewriting Wills is providing a solution for some clients. If you are a couple, I have a type of Will which allows each of you to leave your assets (such as your share of the house and any savings or investments) in trust to be used by your spouse, but they would not actually own the assets. Therefore, if one of you dies and the survivor enters long term care, the deceased’s assets could not be taken into account for long term care costs. In addition, the Local Authority cannot accuse you of deliberately depriving yourself of assets, as you can leave your estate to whomever you choose and are not obliged to leave it to your spouse. Unfortunately, this option is not available to single people, however, in some cases it may be appropriate to consider transferring assets into a lifetime trust and I can discuss this and other options with you.

Suzie Falconer of Walker Laird is an associate solicitor who is able to help with the above and many more legal matters. Suzie is available for out-of-hours or home appointments.

Call Suzie on 0141 847 4946 or email Suzie at