Accountant: Don't Lose Your Home to Care Fees!

Are you worried about losing your parents' home to care fees? In this video, I explain how UK care costs can quickly drain your capital — and the steps you can take to legally protect the family home. With residential care now averaging around £5,000 per month and nursing care closer to £6,000 per month, more families than ever are being forced to sell their homes to fund later-life care. As care fees continue to rise and household finances become tighter, planning ahead has never been more important. Many people wrongly believe that the 7-year inheritance tax rule applies to giving away their home to avoid care fees. In this video, I explain why this is a dangerous myth — and how “gifting” property can lead to serious financial and legal problems. I break down realistic, practical, and compliant strategies that actually work, including: ✔ Why giving away your house rarely protects it ✔ The truth about deprivation of assets ✔ Tenants in common explained simply ✔ How property ownership affects care assessments ✔ Downsizing as a planning strategy ✔ Equity release – pros, cons and risks ✔ How to protect your spouse and family legally ✔ Common mistakes that cost families thousands i.e. the use of trusts TIMESTAMPS: 00:00 - Intro 00:45 - Cost 02:40 - The mistake people make 05:05 - Tenants in common 06:40 - Equity release WHO AM I: I'm Kiran, a qualified Accountant and experienced tax professional living in the UK. I make videos about finance, tax and investing. MY FILMING GEAR: Camera - https://amzn.to/3FxPlad Microphone - https://amzn.to/3RP1GOu Tripod - https://amzn.to/3PVWRjR DISCLAIMER: This content, and the ideas presented in it, are for education and entertainment purposes only. Kiran does not provide tax or investment advice. The information presented does not consider the financial circumstances of any investor, and therefore may not be suitable for all investors. Although Kiran is an Accountant, no Accountant-Client relationship is established with the viewer in any way. As an Amazon Associate, I earn from qualifying purchases. The product links in the description are affiliate links. This means if you choose to buy something through one of these links, I may receive a commission on the sale, but it makes no difference to you as a buyer.