Not spending income - adds to inability to claim benefits?

Mojisola

pipkin71 wrote: »

but from my experience, there is a personal disregard plus a buffer of 25%, then there may be income disregards, depending on what benefits are being claimed and they will also look at any disability related expenditure before working out how much your father will have to contribute.

I've never heard of this. It was all quite clear-cut when my father's financial assessment was done - over £23,250 and you pay for everything.

It doesn't matter where that money came from - inheritance, savings, earnings, benefits, gifts, house sale - it's just money.

lovinituk

Mojisola wrote: »

I've never heard of this. It was all quite clear-cut when my father's financial assessment was done - over £23,250 and you pay for everything.

Same with my nan.

Dunroamin

evenasus wrote: »

I usually agree with your posts Dunroamin.
But it depends what you class as working class.

I think you'll find, that there are people of working class that have, by the time they reach their 70's saved more than £100K.

Fair enough. You must move in more affluent circles than I do.:o

(Or are you including a pension "pot"?)

lovinituk

Dunroamin wrote: »

How many "normal working class people" can save £100k, unless you include their home?

But why not include their home?

evenasus

Dunroamin wrote: »

Fair enough. You must move in more affluent circles than I do.:o

(Or are you including a pension "pot"?)

No, not a pension pot - just many years of being a saver.

Bogof_Babe

Also they might have received an inheritance from their own parents, which is all lumped into the blanket term "savings".

downshifter98

The 25% 'buffer' is regarding income; my parents local authority dismiss an amount similar to the minimum income guarantee (£150?) plus an extra 25%. If savings are below £23t and income is below £150+25% then nothing is charged for care - this is for home care, not sure how it works for a care home. These numbers are based on an individual not a couple (I guess they are double for a couple) and exclude their main residence.

evenasus

Bogof_Babe wrote: »

Also they might have received an inheritance from their own parents, which is all lumped into the blanket term "savings".

Certainly not in my case! Although my two sons will inherit quite an amount.

princessdon

evenasus wrote: »

Certainly not in my case! Although my two sons will inherit quite an amount.

It depends on income though as opposed to working class. I'm working class, but have a high income compared to some, less than others. I have that amount in savings, with endowments to come etc, and am only in my 30's. now mortgage is lower, not paying £1500 pm in childcare I can add to that over the next 30 years at a higher rate.

If, I worked at NMW - this would never be possible, so it is possible without bank of mum and dad but also for some not achievable. What I find remarkable is that amounts like that can be saved from benefits, rather gobsmacks me if honest.

evenasus

princessdon wrote: »

What I find remarkable is that amounts like that can be saved from benefits, rather gobsmacks me if honest.

I agree with you there.