Protective Property
It may be your understanding that if you have to go into a care home your home will automatically go to your Children. You would be WRONG.
Trust Wills
Should you have to go into long term care then after 12 weeks in care you are means tested. If your assets including your home are more than £19,500 your home may have to be sold to pay your care home costs.
Care homes costs can be anything from £500.00 - £700.00 weekly and the government currently only assist with a maximum of £210.00 per week - meaning that your family would have to meet the remaining costs.
- Across the UK almost half a million people are in residential care
- Women have a one in four chance of needing long term care
- Men have a one in six chance
It is illegal to transfer your home to a relative or friend to avoid paying long term care costs. However, a Protective Property Trust
has been designed for this purpose. This is legal.
You and your partner can make provision that upon your death so that your own half share of the property is placed in a trust for your children.
Inheritance Tax
On death your estate will be valued by the Inland Revenue. Estates valued at more that £300,000 currently have to pay 40% tax, over and above this band. This must be paid before the estate is settled.
Planning Wills
As property values soar, the value of our estate increase. The result of this is that more and more families are being caught in the Inheritance Tax net.
Through proper planning we can help to you to avoid or reduce this tax.
We can also assist with protection products to include:
- Children's Trusts
- Disabled Trusts
- Living Wills
- Unmarried Partners
- Separated
LS/UK Legal Services UK Limited
Legal Services UK will prepare all Legal Documents working in accordance with the Society of Will Writers and Scottish & English Law.
The Company are full members of the Society of Will Writers (UK).
Legal Services UK is a Best Practice
company upholding the highest standards of business efficiency, quality and ethics.
For further information on LS/UK please view their website at www.legalsuk.com.