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Transferring Your Property to Your Children to Avoid Care Fees – It’s Risky

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We are noticing an increasing amount of problems for people who have tried to avoid or reduce their care fees liability. Something that would happen quite often, particularly in the 1990s, was to transfer your property to your children. The children would own the property, to all intents and purposes.  And they would ‘be nice’ and let their parents live in the property for the rest of their lives. But if the parents were placed in residential care they would be able to say that they did not own their own property, and hopefully avoid or reduce their care fees liability because they seemingly had fewer assets. For more information about why people thought this would affect their care fees, and the risks, please see here. But if you would like to know more about care fees, or are worried because you have transferred your property to your children, please contact a member of our Private Client team  on 01623 451111, or email rhoward@fidler.co.uk.

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