Financial future for Carers?

HarperB

I'm looking for some advice. I'm a Carer for my ancient mum and have been for the past 5 years. I've just turned 60 and am wondering about my financial future - and if there is one - as I'm living on Carers Allowance, a bit of income support and eventually a very small amount from annuities I built up when I was working.

Mum has Alzheimers and we cope very well at the moment, one way and another (I do have support from a girlfriend and a bit of day centre for a break) but I have to face the fact that Mum may need residential care at some point. She will be self-funding because she owns her own house, where we live, and has a good income from her own pension plans, but I wonder what will happen to me? I have no savings any more and the house would go to pay for her fees as she isn't going to get less than the best care. At that point, I'll guess I lose the pathetic income I currently get, will have to look for work in my 60's and won't have or be able to afford a roof over my head. As for any future care needs I might have, I guess I wonder even more about how they will be funded.

Does anyone else have any thoughts on how this will all pan out? Would I be better trying to stay in the job market and find alternative care for Mum now, do I cling to the idea that the State wouldn't take the house into account because I am over 60...but then I couldn't afford the utilities on my current income or even JSA. what could or should I do? Don't want to sound too depressed but it does look rather gloomy out there.

missbiggles1

I'm not sure why you think you wouldn't be able to afford the utilities if on JSA - that's what other unemployed people have to live off.

lessonlearned

You have my absolute sympathy because I have been in your position. I gave up work to look after my husband when I was 56. I did it of love but I can honestly say I would not do it if I had my time again.

After six years he had to go into care. I was left I. Limbo. Too young for my pension, too sick to work (6 years of caring wrecked my back and damaged my health) and yet I couldn't claim any sickness beneft because I was deemed fit to work.

I was left without any income for 6 months until my pension kicked in. I didn't bother with JSA because I knew I couldn't hold down a job. The same thing happened to a close friend of mine.

With hindsight I would have been better to concentrate on my career and use my salary to put towards buying my husband better care, because realistically there is no way one person can provide good quality 24 hour care, not once you get into hoist terroritory.

If I had done that, then with help and support, I could have kept my husband at home and he would not have had to go into care, or at least the move could have been delayed for another year or so.

My advice is to look at all the options open to you and try and find a way of continuing to work. I would try and stay in the job market as long as you can.

I'm Assuming that you are not eligible to retire for several years yet, it's a long time to survive on JSA if you have no savings.

I m sure your mum would not want you to suffer the financial repercussions, she would want what's best for you.

They did not put a charge on the house to fund my husbands care because as his wife I hAd some measure of protection. I honestly don't know what the rules are for children over 60. I think you had better get some professional advice on that one.

All the best. I have been through all of this first with my husband and then my mum and its not easy to get the Information and help you need.

I would suggest you get in touch with bodies such as Age Concern and Pals (Patient Liason Service), and any AlZeimers support groups or Carers groups in your area.

Good luck.

maturelearner

I can only empathise and suggest you use the calculator below to see what you would be entitled to


http://www.turn2us.org.uk/Find-Benefits-Grants


Additionally it is probably worth contacting your local council to see what, if any, homeless provision there is in your area.


Best wishes to you and your mum. Hope something works out.

Mojisola

Have a look on the AgeUK website. They have very informative leaflets about paying for care.

If a relative over 60 is living in the house, its value cannot be counted as capital.

HarperB

Thanks to all for replying - it does seem a minefield so I think I will have to start getting some professional help sooner than I thought.

[Deleted User]

People do get NHS funding for care if they are ill and this can include Alzheimer's. That said it is a hard battle and not very quick.

It may be worth you seeking professional advice now regarding your status with her house, and whether you have any claim to it that can be protected especially in view of the years of care you have given and continue to give.

Equity release may be something to explore as the money raised could contribute towards your mum continuing to be cared for at home but with additional carer help so you get support as well but you both still live there?

If her care has to be paid for then being at home being cared for is an option worth exploring. All of the above needs to be researched with professional advice and if mum has assets now it would not be unreasonable for her to pay for that advice as it affects her as well.

anmarj

by getting carers allowance you will have built up some entitlement to State Pension, if you have worked previously you would of paid National Insurance Contributions that goes towards your State Pension as well. Get a forecast especially as the rules are changing for State Pension next year

https://www.gov.uk/state-pension-statement

There will be some form of Pension Credit but it is means tested, so along with any benefits, they will also take into account any other income such as annuities, and any savings/investements over £10,000

HarperB

An interesting follow up that may be of use to others. I got some professional advice, which is still being pursued but it does seem that the house can't be counted as capital, not just because I have turned 60 and lived there for so long but there is also the possibility of what is called a "beneficial" interest, whic would apply to people in the same position underr this age. This comes about because I assisted in the purchase and paid towards the ipkeep, in luding works for which I have (amazingly) managed to keep receipts.
I don't suppose the council are going to like this but as I'm not looking to them, or anyone, for residential care, it apparently isn't a problem. Home care (day centre) is part funded by the council amd all mum's attendance allowance. capital doesn't count towads this.
Anyway, advice is, if you live with an elderly oarent as a carer, get teceipts, register your presence...don't leave it too late. I still worry about my ability to get back into the job market but thats for another day.

cavework

HarperB as a resident and close relative aged over 60, as this is your main residence, the property value should be disregarded when calculating your Mums assets , should she need to go into care
Hope this helps
xxx

lessonlearned

Yes I can second this. Your home is safe, even if your mum might need to eventually go into care.

Your circumstances fall Into the "disregard" category.

But you are right, it's always wise to keep receipts for any improvements you might have paid for or any financial contribution you may have made.