If You Want To Keep It In The Family… Then This Article Is For You…
Whats the background to this..?
Well, lets start with the the bad news first…
Every year tens of thousands of people are forced to sell their home to pay for residential care because they are no longer able to live independently. Many thousands more are unable to pass their home on to their children because the Local Authority has taken a charge over it to be paid on their death.
How much of your estate are you prepared to lose?
With the threshold for state support set at just 14,250, almost everything you have is at risk. Anyone that owns their home, or has more than a minimum amount of savings faces the prospect that practically everything they have worked for could be taken away from them if they are unable to care for themselves in later life. ISAs, Premium Bonds, Bank and Building Society Accounts, Shares, National Savings, OEICS and similar savings and investments are all at risk.
How long will your savings last?
The average cost of residential care is 2716 per month and this figure is expected to double over the next twenty years. In fact, many people in the south of England already pay 5000 or more each month for their care.
Have you paid a mortgage for most of your working life only to have your home taken from you in your last few years?
If you want to protect your estate and still be able to have use and enjoyment of it, then the Universal Asset Protection Trust (APT) is the ideal solution.
Assets held in trust are normally disregarded for care purposes provided that the trust has been set up correctly and the assets ring-fenced at the right time. This is a highly specialised area and many Solicitors, Accountants and Financial Advisers across the country, refer their clients to us for protection.
The assets held in the trust are specifically held for your benefit during your lifetime. This means that you are free to move, downsize or release capital at any time. You are able to sell up and move into sheltered accommodation in the future if this becomes necessary and the proceeds of sale can then provide an income or be spent enjoying your retirement.
The Universal Asset Protection Trust is fully reversible, so if you change your mind at any time in the future, you are able to return everything to just the way it is now.
Many people that set up an APT are not worried about care fees. There are many reasons to hold your estate in this protective environment that can save you and your family tens of thousands in potential fees and pass your estate intact to your loved ones.
I have many years experiance of setting up Asset Protection Trusts for clients around East Anglia and the South East and can share with you how you can avoid care home fees, so you protect your assets for your family…
To find out more about how an Asset Protection Trust can help you Keep It In The Family… go to our website at…