OUR PEOPLE

Should I give away my home to avoid paying for care?
Short answer, no. If the local authority believe you have done so to deliberately deprive yourself of an asset to avoid paying for care, then it won’t work and it may also mean that you have insufficient funds to pay for the quality of care that you would like to receive. As much as you may want to provide for family members you need to look after your own needs first and sadly things can go wrong through life events such as bankruptcy or divorce that can then lead to unintended consequences.

Is it true that a local authority can only look back seven years when assessing whether I have made a gift to avoid paying for care fees?
No. There is no time limit and the seven year period that people are familiar with relates to the effect of gifts on a person’s inheritance tax position.

Does my appointment of executors in my will also cover me if I lose capacity in my lifetime?
No. Your appointment of executors relates solely to who manages your estate on your death. If you want to name people to manage your affairs in your lifetime, then you need to also make Lasting Powers of Attorney. You can, however, name the same people as executors and attorneys if you wish.