Will Trusts

There are two ways of owning your home 🏡 Joint Tenants or Tenants in Common.

Tenants in Common (TIC) allows you to avoid having the entire property value 💷 count towards care home fees because only your individual share of the property is assessed. By changing from Joint Tenancy to TIC and incorporating a Trust in your will ✍️📃, you can ensure the surviving partner continues to live in the home, and the deceased's share is protected from care fees and passed on to beneficiaries ☺️

However, this may not be a foolproof method to avoid fees, as the local authority may investigate for deliberate deprivation of assets if the change was made with the intention of avoiding care costs 😩

How Tenants in Common Can Help

* Defined Shares: With TIC, you own a specific share of a property ➗, unlike Joint Tenancy, where ownership is undivided 💯��

* Share-Based Assessment: When someone requires care, the local authority only assesses the value of the share owned by the person needing care 😊��

* Protective Trust: A will can include a Trust that gives the surviving spouse a right to live in the property for their lifetime 🌈��

* Preserving legacies : This arrangement protects the deceased's share from care home fees, allowing it to be passed on to children or other chosen beneficiaries, preserving the family inheritance 🧑‍🧑‍🧒‍🧒�

Call 01458 555013 for a free home visit across Somerset, North Somerset and Devon today ❤️

I look forward to hearing from you 🥰

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