TM FREE
APRIL 2014
For mature people who enjoy life! Also available online at www.seniorstoday.co.uk Tel: 01782 461711 Do YOU need a specialist Will? IT is unsurprising that few of us have considered what the effect might be on our savings and investments, or even our home, if (as is most probable) we ever needed residential care later in life.
eventually sold! Bear in mind that average residential care fees start in the region of #500 per week, so it is clear how quickly assets can be eroded.
The DSS has often become the sole, outright owner of the family home after the death of an elderly Most people assume that we shall pass on our assets parent, who had been living in a nursing home. to our children or other relatives in due course; yet, this may not always be the case, unless careful arrangements have been made to protect our assets from being taken to pay care home fees. In recent years, it has become increasingly apparent that the State will only provide for those with little or no savings or assets; everyone else is expected to pay at least part (if not all) of his or her own costs. Currently, anyone with assets in excess of #22,250 (this figure includes the family home) is not eligible for any state help with his or her residential care fees; if you have more than #12,000, but less than #22,500, you are only entitled to partial assistance. The net result is that anyone, who owns his or her own home, is unlikely to receive assistance, even if they do not possess large amounts of cash-assets. Even if you DON'T have the cash readily available, the Department of Social Security can still place a charge against the family home, which enables it to recover the monies owing, when the property is
HOWEVER, THERE IS A SOLUTION IN THE FORM OF PROPERTY TRUST WILLS. A 'Property Trust' is based around three, basic elements: the basis on which you own your property, the Trust terms and your Wills, which contain the Trust investment.
FIXED FEE PROMOTIONAL PRICE valid only with this advert until 30th April 2013
£79 each (NO VAT) includes individual bound Will, Advice on executors, guardians, etc HOME VISITS TO SUIT DAYTIME-EVENING-WEEKENDS
Upon the first death, their share of the property (typically 50%) is placed into the Trust to be adminstered by the Trustees nominated in the Will, and this, usually, includes the surviving spouse.
The surviving spouse, under the Trust's terms, has the right to remain living in the property for the rest of his or her life; on the death of the second spouse, the Trust comes to an end, and the property passes absolutely to the beneficiaries. For further details, contact Anthony Heath, Associate of Countrywide Tax and Trust Corporation & Golden Charter Funeral Plans, on (01782) 361971/07780-009245 or anthony@ willsforu.co.uk
ANNOUNCEMENT!!!
OVER 1,000
Homes SOLD every week to pay Care Home Fees Protect your home with a Protective Property Trust Will
Including a Home Visit £250.00 the pair
Professionally Written Wills Standard Single Will With Home Visit £79.00 each
It’s never too soon but often too late
Professional Will Writer
The Property Trust can only be created, while both partners remain alive and the property must be owned as Tenants in Common (the Trust instrument is, then, included in both Wills, but does not come into force until the death of the first).
The Will also specifies who is to be the ultimate beneficiary of this share in the property, and the Trustee's duty is to protect the property for the beneficiaries' benefit.
Professionally Written Wills
Anthony Heath
&
Standard Pair of Wills
With Home Visit £138.00 the pair (fixed fees however complicated)
01782 361 971 07780 009 245 anthony@willsforu.co.uk
www.willsforu.co.uk
Telephone Anthony Heath
01782 361971 see website for online prices
www.willsforu.co.uk