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Time to check wills are accurate
Thousands of wills could need updating as rising care and nursing fees force the elderly to sell their assets to pay for care, the Law Society is warning.
It has become a growing trend among those requiring care to sell their home to pay for expensive fees, but the society points out a person’s home is usually the largest asset they leave in their will.
Andrew Holroyd, Law Society president and senior partner at Liverpool firm Jackson and Canter, said: “Many people get their solicitor to include their home in their will, but with more people selling up to release capital for care fees, many wills will be outdated. There will not be a home to leave to loved ones.
“Wills should be reviewed regularly. Someone who might have intended to leave their home to a family member, friend or charity in their will 10 or 20 years ago· may not want· or be able to do so now.”