A life interest trust protects at least half the value of your property against care home fees, if the property is owned 50/50 through tenants in common. This is because the half held in the trust isn't considered when paying for the care of the surviving owner. For example, if your home is worth £300,000 when the first owner passes away.. Do tenants in common avoid care home fees? It is possible to reduce the amount likely to be paid in care home fees by using a tenants in common arrangement. Most couples own their property as joint tenants, so if either person dies, the property passes automatically to the survivor. But should the survivor need to go into a care home, the whole.
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Tenancy in common in real estate is an arrangement in which two or more people share ownership rights of a property. When one of them dies, the property passes to that tenant's beneficiaries or heirs. Furthermore, each co-owner may control an equal or different percentage, or share, of the total property. When two or more people own property.. If you're looking to join a care home permanently, the financial assessment for care fees conducted by your local council may include a jointly-owned home of which you're one of the owners. If you need money to pay for your care home fees, you may have to sell your property in order to cover the costs. However, the value of your home is.
