Worried about your home being taken to pay for care home fees?
This is one of many situations that can arise in the later years of life, which could reduce or even exhaust all of your assets.
However, there IS a solution...
HOME OWNERS If you have worked all your life, and particularly if you have paid off the mortgage on your home, it is understandable to then be protective of your hard-earned achievements. Most people want to ensure that their estate passes on to their children or grandchildren. However this can be threatened by various unpredictable and unwanted circumstances such as divorce, bankruptcy or needing to go into care. Probate fees could reduce your estate even further, and problems can occur with the delays that occur whilst your estate is going through probate.
Could I give my house to my children? Giving the property to your children might not be the safest option. What if you have a disagreement with your children or their partner in the future? What if your children suffer relationship difficulties, or develop a drink or drug habit, or a gambling addiction, or themselves go bankrupt? If they own your home, they may be forced to sell that asset as part of the solution to their own problem.
PROTECT YOUR ASSETS
Sideways Disinheritance explained... Whilst it may not seem likely when looking at present-time circumstances, one major situation that can occur is called Sideways Disinheritance. If you are married with children, and either you or your spouse dies, the survivor will likely inherit most if not all of the deceased’s estate. If the surviving partner then re-married and themselves pass away before their new partner does, then most or all of the current estate will likely pass on to them – a person with no blood relationship to your children, thus potentially disinheriting your future generations.
THERE IS A SOLUTION The solution to these situations will be specific to your circumstances. Depending on your age, health, the assets you own, your family circumstances and, most importantly, what you want to achieve, we can recommend the best and most cost effective means of solving any future problems. The most basic protection you can have is a Will, however this is unlikely to provide a full solution. We can also arrange to write a Family Asset Protection Trust, which can protect any assets that you want to safeguard from unforeseen and unwanted problems in the future.
Get in touch NOW you’ve got everything to lose!
TELEPHONE 01706 355557
The Willwriting Partnership has been writing Wills and Trusts since 1999. We are a local, family firm and have helped hundreds of people to achieve the peace of mind of knowing that their affairs are taken care of. We are friendly and honest and will provide you with the best advice available, with a pleasant face-to-face explanation and an open-line to you and your family for ongoing support.
TESTIMONIALS I feel I must drop you a line to congratulate you and everyone concerned on the way you handled drawing up our Wills recently. The service was thorough, polite, caring and above all most professional. We were so impressed, nothing was too much trouble. You made what can be a rather sombre time an ease to deal with. We will not hesitate to recommend your services to relatives and friends alike.
After your visit to sort our will's out for us, we both looked on you as a new friend. Your approach to taking care of the will writing and telling us just what was necessary was a great lesson in itself - mostly things we would not even have thought about without your help, so we do thank you so very much. CT & SM, Littleborough
SH & SH, Whitworth
CONTACT US The Willwriting Partnership Phone 01706 355557 The Boundary House 139 Norden Road Email Bamford info@thewillwritingpartnership.com Rochdale OL11 5PT www.thewillwritingpartnership.com Š 2011 TBHPL. The Willwriting Partnership is a division of The Boundary House Partnership Limited