Protecting Your Assets
Even with the raise in financial thresholds and the 'deferred payment scheme' coming into force next year with the Care Act 2014, it is still important to take professional advice on what you can do to protect your home in the event that you may need nursing care in the future. Married couples can benefit from setting up 'life interest trusts' in their wills. On the death of the first spouse, this trust would come into effect which would protect one half of the home against financial assessment by the local authority.
We can advise you further on whether this is suitable for your circumstances.