We need lose £10,000 before social services grab it

tranmere_2112

My mother in-law has savings of between 10,000 and 15,000 pounds ( not sure of the exact amount) that she has saved over the years to leave to her grandchildren.
She now finds herself in ill health and may need to go into a home ( she is 80 ) a couple of years ago my wife put some of her cash in an ISA, but the rest is just lying around in her bank acount, if she has to go into a home her savings will be taken from her to pay for her keep until its all gone.
Has anyone any advice as to what we can do with the cash to stop this happening, i understand that if we simply transfer the money into other named accounts this can also be taken as the social services trace money back 7 years, not sure if this is true or not.
We have about 3-4 weeks to sort this out any help would be very much appreciated.

innovate

Your MIL's rights are summarised here: http://www.ageuk.org.uk/home-and-care/care-homes/deprivation-of-assets-in-the-means-test-for-care-home-provision/

https://www.moneyadviceservice.org.uk/en/articles/means-tests-for-help-with-care-costs-how-they-work

jimjames

She can't just give money away to avoid paying care costs.

Google deprivation of assets

Surely if she has saved up money for her old age this is what she would want to spend it on - making her last few years more comfortable?

And it won't ALL be taken, only an amount above a threshold which I seem to recall was £16k so may not even affect her.

kidmugsy

If I may rephrase innovate's reply: do you really expect us taxpayers to advise you on how to steal from us?

innovate

kidmugsy wrote: »

If I may rephrase innovate's reply: do you really expect us taxpayers to advise you on how to steal from us?

I have deleted my original reply since I thought it better to point the person at the document that describe the rights people have. But you are of course right.

morganedge

tranmere_2112 wrote: »

My mother in-law has savings of between 10,000 and 15,000 pounds ( not sure of the exact amount) that she has saved over the years to leave to her grandchildren.
She now finds herself in ill health and may need to go into a home ( she is 80 ) a couple of years ago my wife put some of her cash in an ISA, but the rest is just lying around in her bank acount, if she has to go into a home her savings will be taken from her to pay for her keep until its all gone.
Has anyone any advice as to what we can do with the cash to stop this happening, i understand that if we simply transfer the money into other named accounts this can also be taken as the social services trace money back 7 years, not sure if this is true or not.
We have about 3-4 weeks to sort this out any help would be very much appreciated.

I think you've left it a bit late i'm afraid.
Should have been hiding money a good few years ago, little by little, in anticipation of events such as this.

tranmere_2112

kidmugsy wrote: »

If I may rephrase innovate's reply: do you really expect us taxpayers to advise you on how to steal from us?

She paid her taxes for over 60 years dont you think the little she has saved can go where she would like it to go.
When you have worked 60 years then come back to me with "us taxpayers" we are supposed to live in a free democracy, its Daily Mail readers such as you that create this "us" and "them" society.

suburbanwifey

tranmere_2112 wrote: »

She paid her taxes for over 60 years dont you think the little she has saved can go where she would like it to go.
When you have worked 60 years then come back to me with "us taxpayers" we are supposed to live in a free democracy, its Daily Mail readers such as you that create this "us" and "them" society.

I personally also think that what a person has saved through their life should be left to their families etc, not taken forcibly from them to pay for care costs. I feel all the tax and NIC we pay through life should pay for that! and I do read the Daily Mail and still think its robbery of the highest order.

evenasus

I can understand those feelings.

The reason people are angry, is that someone who has never saved and instead has spent all their money enjoying themselves then get their nursing home fees paid by the state.

princeofpounds

I feel all the tax and NIC we pay through life should pay for that!

The problem is - it doesn't.

The tax and NI we pay throughout our working lives 'should' pay for a lot of things but you can't magic up more services for the same money.

The large majority of people get far more out of the system (in schooling, NHS, old age care etc) than they ever pay in, even the workers.

The net contributors are actually relatively fewer in number, although there isn't necessarily anything wrong with that as they are higher income.

That's why the 'I paid my taxes for x years' is generally a bit annoying. Particularly from the boomer generation who raised entitlements for their cohort at the expense of others. Because frankly you probably still didn't pay enough for what you're getting.

rickypatel89

The argument people keep making 'I've paid my taxes, so I should get it".

People don't realise that they've had free health care, dental care, free schooling, subsidised higher education, a state pension and numerous other services. The taxes you've paid barely cover a quarter of what you've received from the state.