Is there a way to protect my Mum's assets from being used to fund Care Home costs if she needs to go in one?
The assets are her flat and some cash. She is a widow.
If your Mother gives away assets including signing over her flat to you, specifically to avoid care fees, she might be caught by the deliberate deprivation of assets rule, meaning she will still be liable for care costs. Generally speaking the first 12 weeks of care are free and after this, if her income or assets are greater than around £23,000, she will be expected to meet care costs. However this does depend upon where you live. www.ageuk.org.uk is a useful source for information on this issue and the Society of Later Life Advisers, www.societyoflaterlifeadvisers.co.uk The answers above are for guidance only and should not be acted upon without you receiving independent financial advice relevant to your circumstances. Please note tax rules are subject to change. To find an IFA please go to http://www.unbiased.co.uk Danny Cox, Certified Financial Planner CM, Hargreaves Lansdown, www.hl.co.uk. Twitter: @DannyCoxIFA