Most married couples own their home as joint tenants. This means that when one of them dies, the property will automatically pass to the survivor. If the survivor needs to go into care, the whole value of the house will be counted when assessing your contribution to care funding.
It is possible to change the way in which a property is owned from joint tenants to tenants in common. This means each person owns an identifiable share in the house which can be left to other beneficiaries in their Property Trust Will.
Upon the death of the first joint owner, the survivor can remain in the house and even move house, but they will only ever own their half share of the house. It is for this reason that only half of the house can be taken to fund the survivor’s care.
Please contact us for full details of our fees and to discuss your individual requirements.