How To Protect Assets From Nursing Home Fees
| Money : Money Management It is a sad fact that many people need to go into nursing homes these days, either because the family cannot cope or since there are no family around at all. Therefore the life savings can be at risk as most will have to pay for their care. Basically so-called countable assets are used to pay for the fees, and these are things like stocks, shares, money, even a house or flat or other property. However the so-called non countable assets are disregarded: the likes of jewellery, furniture, cars and so on. Therefore countable assets need to be converted to another format; or even given away to those who would obtain them through the will in due course. The bottom line is that you should take steps to consult a solicitor about how best to deal with these issues in advance of the likelihood of you needing care; often measures need to be in place for around 5 - 7 years before hand.
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