One of the main concerns people often have is how best to protect their assets. Asset protection is a way of trying to preserve what you have worked hard for to ensure it passes according to your wishes.

The most common question our team are asked is how someone can protect their assets if they were to ever go into a care home. Our team are here to ensure that you are advised about all the options available to enable you to make an informed decision about what suits your needs best.

The rules relating to care home charges have recently changed under the Care Act 2014. Our experienced team can advise you on the way your assets are assessed towards care home fees and what can be done to protect your assets going forward.

Another concern people often have is protecting assets against divorce, or ensuring assets are preserved to pass down to the next generation.

Asset Protection is a very specialised area of law and it is essential that you take professional advice to ensure your wishes are met.

The options which best suit your needs will depend on what your assets are, your circumstances, who you wish to benefit and what worries you have. Here at Taylor Bracewell our expert team can guide you through all the different options which would suit your needs and advise you of all the advantages and disadvantages accordingly. We believe in providing you with all the information to enable you to make an informed decision.

As Solicitors Taylor Bracewell have an obligation to act in your best interests. This means we are not here to sell anything, but instead are here to provide advice about what options you have.

As a firm of Solicitors we are regulated by the Solicitors Regulation Authority and we are required to have indemnity insurance in place to ensure that you are protected at all times. Only Solicitors firms are regulated and are required to have insurance. There are non-regulated companies which can provide you with advice but you have to ask yourself what form of redress you have if their advice is wrong. With a Solicitors firm you know that your interests are protected.

For more advice on Asset Protection or any area of Personal Law contact Taylor Bracewells Expert team. To discuss your circumstances, or arrange to meet with one of team to discuss your circumstances in more detail please contact us on 01302 341414 or 0114 2721884 or email personal@taylorbracewell.co.uk.

Background

One of the main concerns people often have is how best to protect their assets. Asset protection is a way of trying to preserve what you have worked hard for to ensure it passes according to your wishes.

Have you considered what happens in the following circumstances:

  • Your spouse remarries after your death and their new spouse had children of their own, would all your assets pass to their new spouse on their death?
  • Your spouse remarries after your death and had children with their new spouse, would all your assets pass to their new children on their death?
  • You have children of your own from a previous relationship but leave everything to your spouse on your death, what happens when they die?
  • Your desired beneficiaries became bankrupt or divorce - where does your inheritance go to?
  • You leave all your assets to your spouse, but they have to go into long term care - are all your assets used to pay for their care?

There are many situations in which you may wish to protect your assets and here at Taylor Bracewell our expert team based in Sheffield and Doncaster are here to help you.

There are various options which depending on your circumstances can be tailored to suit your needs.

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