Care costs leave three out of four with no inheritance
According to a study by the NFU Mutual Group, three out of four Brits whose parents have had to go into care have lost all or most of their inheritance, with savings and property used to pay for the cost of care. Most people would rather have their family inherit the assets they have worked hard for throughout their lives instead of being given to local government.
When will I have to pay care costs?
If you have savings or assets worth over £14,250 then it is likely you will have to pay care costs. When your savings run out the local council will apply charges to your property that will be cashed in on your death.
What can I do to protect my assets for my family?
If you're keen on protecting your assets for the benefit of your family then you need to speak to one of our professional consultants.