The continued mounting costs of care home fees could mean elderly people have nothing to leave to their children.
Increasing numbers of elderly people could see their assets wiped out as they struggle to fund the costs of living in a care home. It is estimated that tens of thousands will need to sell their home each year to fund care home fees which can amount to as much as £60,000 a year.
Many will share the view that it is unfair that people who have saved and lived carefully for years will have nothing to leave for their families however this does not have to be the case.
Many people end up in this situation because they have not received legal advice about their estates and are therefore unaware of the consequences of not making a will.
By taking legal advice and drawing up a carefully worded will, it is possible to both provide for a surviving spouse and preserve some of their estate for their children which means they can carry on living and enjoying their lives.
If you are concerned about this matter please contact Emma Kirkwood on 01782 66 24 24 for advice about your options.