Grimsby 01472 240251 Scunthorpe 01724 847888 Louth 01507 600610 Barton 01652 632 215
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Transfer of Assets

A transfer of assets is the process whereby the ownership of an asset changes, usually without any money changing hands. You are entitled to transfer ownership of any of your assets during your lifetime to whomever you wish.

However there are many considerations to make before doing so, and the rules in certain situations can be complex. For example, a transfer of assets may affect any benefits you receive and could be classed as a deliberate deprivation of assets for income and capital assessments of your wealth for care home fees.

There is much confusion and misunderstanding about what can in fact be done and it is rarely as straightforward as it may seem.

If you are considering transferring assets to younger generations, please contact our experienced teams at staff in Grimsby on 01472 240 251, Louth on 01507 600 610, Barton on 01652 632215 and Scunthorpe on 01724 847 888.