Abacus Wills & Trusts warns UK homeowners about care fee risks

Abacus Wills & Trusts is urging UK homeowners to consider asset protection planning as care home fees and rising property values can expose family estates to unexpected costs. The firm is offering free initial consultations as it highlights the limits of wills alone and the importance of planning while people still have mental capacity.

Why it matters: - Care home fees can force homeowners to use property and savings to fund long-term care. - In England, people with savings and assets above £23,250 may have to pay the full cost of care as self-funders. - The £23,250 threshold has stayed unchanged since 2010 while residential property values have risen, increasing exposure for many families. - Even a paid-off home and modest savings can push a family over the care funding threshold.

What happened: - Abacus Wills & Trusts, a High Wycombe-based wills, trusts and estate planning specialist, is highlighting care fee risks for UK homeowners. - The firm says asset protection planning should be considered while people still have the mental capacity and time to make arrangements. - Abacus Wills & Trusts is offering free initial consultations for UK families.

The details: - A will only takes effect after death and does not protect assets during a person’s lifetime if care costs arise. - Asset protection planning can include trusts and other legal structures set up during a person’s lifetime. - Those arrangements may be part of wider planning around a family home, other assets, care costs, creditors or future family changes. - Transfers made after care needs begin can be reviewed by a local authority under rules on deliberate deprivation of assets. - Professional legal advice is important before assets are transferred or placed into a trust. - Abacus Wills & Trusts provides home visits across the UK for clients considering wills, trusts and asset protection planning. - Consultants review financial circumstances, explain planning structures, help prepare legal documents and provide ongoing support. - The firm’s wider estate planning services include wills, inheritance tax planning, powers of attorney, trust registration and related matters. - Abacus Wills & Trusts says its approach treats asset protection as part of a family’s broader financial and estate planning.

Between the lines: - Rising property values are making homeownership a bigger factor in care assessments than many families expect. - The message is aimed at homeowners who assume a will is enough, even though wills do not address lifetime care costs. - The focus on timing reflects a common planning risk: moving assets too late can create scrutiny from local authorities.

What's next: - Abacus Wills & Trusts is positioning its consultations as a first step for families that want to assess care fee exposure. - The firm is directing homeowners to review their estate planning before care needs arise, rather than after assets are already under pressure. - More information is available at the company’s website.