No, this is not possible. There are many benefits to having a trust. But if the only reason is to avoid care home fees or inheritance tax. We can’t do anything. IR says, “Permanently depriving a creditor from an asset is illegal”. However, with careful planning and using a Trust for the right reasons, we can help to mitigate IHT and care home fees, but there are caveats.

“Whenever there’s a life changing event or every two to three years. Have a chat with your estate planner”.

“Yes. Both do very different things. One is for Finance & Property, the other is for Health and Welfare. They both complement each other”.

“Along with a Health & Welfare Lasting Power of Attorney, a Living Will covers scenarios at the end of life and stops loved ones guessing what they should do in certain situations”.

“Yes, dying intestate means that any belongings you have will be distributed by the government”.

“If it’s a single person with no assets, that’s fine. However, a husband and wife with a mirrored will should not appoint a family member on second death as not only could this be a conflict of interest, but this could work very expensive. Firstly, any debt is the responsibility of the Executor. Secondly, probate costs could be fixed upfront with a professional. The likelihood is the family will go to a solicitor at the time of grief and potentially pay higher legal fees than fixing it at the time of drafting”.