Advice on savings re elderly disabled in care home

Cheshirechris

It is very expensive to be elderly and disabled. Has anyone any tips about maintaining if not maximising the value of savings for elderly relatives? I have 2 aged 91 and 86 respectively, one in a care home and one who refuses to go to a care home but should really have 24 hour care. Both are unable to walk and one can't transfer. (The cost of carers for the home cared when added to the normal living expenses, is crippling and she is about to get down to the savings limit, but as it costs so much more than her sister is paying in the care home I am concerned that she may be forced to move. ) She has a good pension and allowances tend to look at income, although her expenses are double income. Obviously one tries to use the ISA allowances, but few banks etc allow more than 2 year bonds for over 80's, which rather limits returns. "Regular savings" accounts are no use, as both have to dip into capital for living expenses.

margaretclare

Are both of them receiving all they're entitled to - Attendance Allowance at higher rate would seem to be obvious?

sleepless_saver

Has the one in the care home considered an immediate care needs annuity - not always appropriate but can be useful in some circumstances. It's tax free if paid direct to the care home.