We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
Contact Forum Editor

Send an email to our Forum Editor:


PLEASE NOTE: Your name is used only to let the Forum Editor know who sent the message. Both your name and email address will not be used for any other purpose.

Speakers Corner


It's free to register, to post a question or to start / join a discussion


 

Home care costs -protect property


Terry Brown

Likes # 0

We were talking the other day about long term care in a nursing home (something neither of needs yet) and (as far as we can tell) if you have assets - including a house- you have to sell that to pay for nursing care until your assets are down to about £11000.

Is this correct?

Is there a way a trust fund or similar (after all MP's and the Wealthy do it) can be set up so that all your assets are legally protected, or even just 50% so the non- care patient is not brought to their knees and loses all that has been worked for.

Or should we just spend everything and when we are are skint tell the state to lok after us.

Terry

Like this post
Terry Brown

Likes # 0

Thanks Spuds & Frybluff

I have been in contact with Age Concern and they are going to send me some information.

I am fortunate in the fact that I am stil able to get and digest this information, I feel sorry for any person who is faced with this decision and are themselves 'confused' with documentation or do not have the time to go through the options.

Terry

Like this post
lotvic

Likes # 0

When you get the info - If possible, could you check if it is the same info as the downloadable .pdf's from AgeUK on my link on page 1.

thanks

Like this post
spuds

Likes # 0

Terry Brown, you are very correct about trying to understand some of this type of material. I don't know if it applied to you, but a few years ago, the government of the day use to send out regular information to the elderly about unclaimed money, and what people were entitled to. Mainly because £millions were not being rightfully claimed, and the government wanted to look good about bringing this subject to the public's attention, in distributing this stored and available wealth.

It became that complicated, that some of the elderly people around my neck of the woods, asked if I could or would help them with these claim forms. It soon became very noticeable how many people's claims were being rejected, based on a catch 22 condition of entitlement. The government realised after a few years, that they were doing more harm than good, and the exercise ceased. But the thought was there!.

Like this post
Noldi

Likes # 0

Just changed our will and while with the Solicitor we discussed this topic, our solution was Click here but see a professional before doing anything.

Noldi

Like this post
rdave13

Likes # 0

If you have children then sell your home to them for an agreed price and rent it from them for an agreed sum (for life). If you do this before a set amount of years before care is needed (I don't know the exact amount of years) then the house will be passed on to the children as intended. Of course it depends how well you get on with your off-springs.

Like this post
spider9

Likes # 0

This document seems to be applicable to Australia - would make it interesting to see if it also works in the UK (where even Scotland and England have different rules!!).

Tread very warily I would say!

Like this post
spider9

Likes # 0

rdave13

..and not only your offspring, but their partners as well (that's usually where the trubles start!).

Like this post
spider9

Likes # 0

trubles..?? Sorry.

Like this post
rdave13

Likes # 0

spider9 , precisely, that's why I said it depends on how well you get on. Still, a contract is a contract and it worked in our case. Everything sorted legally and watertight.

Like this post
Noldi

Likes # 0

New link

Sorry wrong link,

Noldi

Like this post

Reply to this topic

This thread has been locked.



IDG UK Sites

Where to buy iPhone 6 and iPhone 6 Plus in the UK: Launch day price, deals and contracts

IDG UK Sites

Is Apple losing confidence in itself?

IDG UK Sites

Professional photo and video techniques for perfect colours

IDG UK Sites

How (and where) to buy an iPhone 6 or iPhone 6 Plus in the UK. Plus: What to do if you pre-ordered...