On the evening of Saturday 4th February 2006, my wife and I went out with a couple of our friends to our local Pizza Express. Anyway, over dinner they were telling us the shocking and scandalous story about how an elderly couple was forced to sell their homes when the husband developed an illness requiring long term care. Apparently, these two individuals have worked hard, paid their taxes and with prudence have accumulated assets of more than 12,250. Ok, let's face it, that is not a fortune these days. Sadly, enough for their access to care to be means tested. It turned out that these two frail individuals were means tested and were found to own assets at well over 12,250. Consequently, the wife was evicted and their property was sold to pay for his care. I was disgusted. I could not understand how the establishment can treat its senior citizens so callously in our so-called civilised society. How can people who have led a productive and prudent life be penalised for having built a modest buffer. More importantly, was there anything that could be done to help others avoid this awful trap? I heard how a retired businessman stumbled across this same problem and how he invested a lot of his time and money to do something about it. I acquired details of his research and findings which, incidentally, concluded that if you own your property jointly with a spouse or partner, you are a sitting duck for the eviction squad. My wife and I, like most people who are married or live together, own our house jointly because it is the right and responsible thing to do. Big mistake! Unfortunately, in law, when you own a house jointly with your spouse/partner, you own it jointly and severally. Basically, you both own the whole of the house - not half each, but both 100%. What this means is that if the house is assessed to pay for residential care, the portion of the house that the person needing the care owns is what's taken into account. And how much do you think that is? Well, it is 100%, ALL OF IT! So, if you or your partner needs long term care, you'll be forced to sell up if you don't have the cash to pay - and the remaining partner will be left effectively homeless. Frightening, disgusting, but absolutely true. There is a simple solution, but hardly anyone knows, or thinks about it. By the way, although my wife and I are in our fifties, we are utilising this simple solution to remove the risk for us. You too can do the same, to find out how you can get this solution for FREE you need to visit http://hope4life.vipinfoweb.com "In our way of life, in our government, with every decision we make, we always keep in mind the Seventh Generation to come. It's our job to see that the people coming ahead, the generations still unborn, have a world no worse than ours - and hopefully better. When we walk upon Mother Earth we always plant our feet carefully because we know the faces of our future generations are looking up at us from beneath the ground. We never forget them."
OREN LYONS |
