Parents approached to make will trust?

[m0]

Hi,

Long time lurker here. So long I forgot my password and the email I used is no longer valid. Any way my parents were cold called and talked into putting their property into a trust. The selling point I believe was that in the event that either of them needed to go into a care home the local authority could not take their home to pay for the fees.
I only found out about this when my parents rang me requesting ID and I needed to sign some forms. Anyway I did a bit of googling and wasn't too sure about the idea or the 3k plus price tag for carrying out this work.
So I rang the firm and pulled the plug on it.
Did I do the right thing? Are these property trusts worthwhile or can they be overturned by the LA as deprivation of assets?
Any help or knowledge on this subject would be most welcome as google is turning up very confusing veiwpoints.

Thanks in advance

M0 (emzero)

[dalenorth]

Yeah, you could get it cheaper. Best to contact a couple of reliable solicitors and request quotes.

[Simpo Two]

If anyone cold calls anyone trying to sell something, hang up. But they may sow the seed of an idea which may (or may not) prove useful if pursued professionally with due caution.

[ellroy]

There is no statute on care costs. It’s viewed very differently by differing councils as they pick up the tab, not central govt.

Anything that has been done to avoid paying care costs can be ignored and so the bill would remain. So I’d suggest treading very carefully over anything marketed that says you can avoid it.

Trusts have their place for IHT and protecting assets from divorcing childrens’ ex spouses and the like, but can be inflexible as well as costly.

If your parents have reason to use one then by all means do so, with professional help, but not for avoiding care costs, which they probably won’t.