200 homes a day are taken by councils to pay for long term care costs
The average cost of care in the UK is over £700 per week - that rises to more than £1000 for nursing homes in the South East.
The cost of care for a single year is daunting - nearly £40,000.
That leaves little to nothing to pass onto children and grandchildren as a legacy.
By creating a Property Protection Trust with your will, at least half is protected when the first spouse dies.
Rather than being given to the surviving spouse, 50% of the home is placed into the Trust.
This half of the home is prevented from being used in the local authority’s assessment of capital for long-term care.
If the survivor needs long term care, the Trust will protect the 50% that has been placed in it. Once the surviving spouse passes away then any children will inherit at least 50%.
The survivor is entitled to stay in the property for life, and can even move house.