‘Yes’ is the answer and it involves revisiting your will and using the trust we used to advise as the best for tax planning. This will ensure that at least part of your joint assets is protected from assessment should one of you die and the other go in to a home. If you are on your own there may also be something you can do, which even if it fails will not leave you any worse off if you do go into a home.
However there are advantages to a complete rethink of how you hold your assets while you are alive. If you have paid off the mortgage it is possible for you to change the way you own your home and put it into a trust now. This can speed up the administration of your estate in the long term because the trustees will be able to sell the house without a grant of probate. It will also enable you to define who is going to inherit the house without the risk of it being changed by the survivor changing his or her will after you are gone and redirecting the assets.
A further advantage might be that placing your property into a trust now means that it is not vulnerable to assessment for nursing home expenses should one or both of you go into a nursing home. Since the trust will contain provisions only allowing residence or the income from investments if the property is sold, the capital represented by the house should be protected for your ultimate beneficiaries.
Nothing is guaranteed of course and a lot would depend on how aggressively the local authority was prepared to be but as above even if it fails you and your family are no worse off than you would be if you did nothing. The Law Society is currently recommending that everyone reconsiders their will if they have not thought about asset protection from nursing home fees and Edwards Duthie Shamash actively support this.