After working hard to buy your own home and build savings for your retirement, you would probably like to leave something for your children and grandchildren after you're gone.


Unfortunately, the costs involved in moving into a Care Home can literally wipe out your entire savings and your home may have to be sold to pay for care fees. This could mean that your loved ones could receive very little, or even nothing at all of what you originally intended them to have.

When someone enters care they are automatically "means tested" and ALL of your assets, including your home are taken into account. Only those who have very few assets will escape the costs of care.

Firstly, it is important to safeguard your home. Simply changing the way you own your home, combined with the appropriate Trust planning, will effectively ensure that your property is protected should either of you enter care. Also, simply changing the way other assets are invested and held, can ensure that your cash or liquid assets are also protected from care.


Funerals can be expensive, but there's a range of ways you can prevent these costs from burdening your family:

  • You can save regularly into a savings account embarked for funeral expenses.

  • If you have life insurance, check if there are extra benefits if the proceeds are used to cover funeral costs.

  • With a funeral plan, you pay a lump sum or installments into a provider who invests the cash and then uses it to cover the costs of a funeral you have chosen. Check the terms and costs of funeral plans carefully-often they're poor value compared with a straightforward plan.