34 LEGAL ADVICE, PRIVATE CLIENTS & LEGACIES Safe as houses?


Without a plan, your children could miss out on the full value of your home. Words: Rachel Ogden


You’ve paid off the mortgage — so you’re free to pass your home on as an asset to your children, right? Not necessarily...


TAKE CARE If you have to move into a retirement home or pay for care later on, it may mean selling your house. Last year, about 45,000 people had to do just this, and with care home fees ranging from £40,000 to £50,000 a year, it’s easy to see how the value of a house can be eroded. Your local authority will only contribute once your assets are down to £23,250, and will only foot the full bill


when that fi gure has shrunk to £14,250. Thankfully, there’s a simple solution: planning ahead.


WILL POWER “It’s important to look at how your assets are owned,” said Sarah Westwood, partner at Buckles Solicitors LLP. “Most simple wills leave assets to the spouse, and then to the kids on their death. However, this is missing a trick. For example, most of the time, a husband and wife make wills that say, ‘I give everything outright to you,’ so the survivor inherits everything outright, including the house — which may then need to be sold for care fees. “But if a will is structured


IMAGE: GETTY


to say, ‘I give everything to you for life,’ the survivor never owns the whole property outright. If the survivor then needs care in a home, the half share of the house that doesn’t belong outright to the survivor is protected.” This means the house can pass to the children on the survivor’s death, rather than eroding its value in care fees. All you need to do is make a new will, leaving assets to each other in such a way that the survivor is safeguarded.


SENIOR LIFESTYLE 15 OCTOBER 2017


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BIBLICAL STORIES SCRIPTURE UNION


Scripture Union’s Diary of a Disciple: Luke’s Story has just been named


Children’s and Youth Book of the Year by Christian Resources Together.


A retelling of the Gospel of Luke using a quirky, contemporary and illustrated style, this book introduces children to the story of Jesus. scriptureunion.org.uk


FUSS-FREE FUNERALS YOUR WAY


PURE CREMATION


A new kind of funeral plan from Pure Cremation is proving to be the ideal solution for people who want to do things their way. Created especially for those seeking a fuss-free, no-


frills send-off , that’s truly aff ordable. purecremation.co.uk/simple


FOREVER HOUNDS TRUST Greyhounds make excellent companions for retired people.


Generally gentle, aff ectionate and calm, they need just a short walk once or twice a day. If you could


off er a loving home to a greyhound from Forever Hounds Trust, visit foreverhoundstrust.org


COULD YOU OFFER A DOG A HOME?


Forever loved For being your best friend.


For making home feel like home. For being there when you feel down. For every stroke and every hug. For all the love they give. For Battersea. Forever.


Please remember Battersea’s dogs and cats in your Will.


Send of call for you free information pack about leaving a gift in your Will.


Mr/Mrs/Ms/other


Surname Address


Postcode Telephone


Battersea Dogs & Cats Home would love to call you, to talk about the amazing difference you have made and how your financial support can help more dogs and cats. Please share your telephone number if you’re happy for us to contact you in this way.


Battersea Dogs & Cats Home would like to contact you by post in future about how your financial support can help our dogs and cats. If you do not wish to be contacted please let us know by writing on this form or using the contact details below.


Supporter Services contact details: Freepost RTLJ-ETCZ-SCCZ, Battersea Dogs & Cats Home, 4 Battersea Park Road, London SW8 4AA Email: fundraising@battersea.org.uk


battersea.org.uk/forever Registered charity No. 206394 AD96 First name


‘Without Battersea, Eddie and I would never have found each other. That’s why I’ve remembered Battersea Dogs & Cats Home in my Will. Will you?’


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