Inheritance Tax Care Fees
What Has Inheritance Tax Got To Do With Care Fees Planning?
If you have planned for Inheritance Tax you may have made gifts and transfers of value to your family and others so that Inheritance Tax on your estate can be reduced. In terms of the need for nursing care or residential care, making gifts and transfers of value may be seen as trying to increase your need for local authority support.
Giving some or all of your assets away to your family (or others) in order to increase your need for local authority support is known as "Deprivation of Assets".
The following actions could count as Deprivation of Assets:
The local authority may have the right to reclaim any extra costs it has had to pay as well as assets should you try to avoid the care fees involved.
Request expert advice about Inheritance Tax Care Fees today and about protecting your wealth and planning for care.