Equity release and deprivation of assets

Deprivation of assets is where a person intentionally deprives themselves of or decreases their assets to reduce the amount they are charged for their care. It is common for people to give money or assets to family members at any stage in their life. So is equity release classed as deprivation of assets?

If your council believes you have taken out equity release in order to “cheat” the means test – known as “deliberate deprivation of assets” – then it is within its rights to ignore the equity release deal and assess you on the basis that you still own all the equity in your home.