Protecting clients’ assets from the cost of care

Aim

To remind practitioners of their role in advising clients seeking to undertake estate planning of the anti-avoidance provisions in relation to means tested benefits and to identify permissible steps in asset protection.

Outcome

Participants will be able to:

• • Draw the line between permissible asset protection and deprivation of assets
  • Advise on certain steps which can be taken to protect assets

Agenda

• The Local Authority financial assessment and ‘deprivation of assets’
• Examine the ownership of any real property
• Options for funding the cost of care privately such as equity release or letting
• Making gifts of the home or an interest in the home
• Asset Protection Trusts
• Making appropriate gifts in a will
• Using life assurance