The rising financial costs of getting Dementia

Tipsntreats

I am a Deputy for my Uncle, who has vascular dementia. A deputy is someone who makes all financial decisions for a person that TOTALLY lacks capacity. I have to report every decision made to the Office of the Public Guardian. My order was granted by The Court of Protection.
So I am fully versed in the Mental Capacity Act, I have had to be!

We save all our lives for that rainy day. We make our wills, pay of our mortgages, and look forward to financial stability in our retirement. HOWEVER, nothing prepares us for memory loss!
I have many relatives with the various kinds of Dementia, and the cost of care is spiraling out of control.
My Uncle never married or had any children. I am his N.O.K, and the sole beneficiary of his will.
This all meant NOTHING when he had to be taken into care. If you have money, you WILL pay. My uncle had a savings plan in place, he had paid into it since he first left school. It would have paid out £140,000 to me on his death. He also owned a property, that had to be sold to pay for his care. I am NOT moaning about that, as his care is more important to me.
I just want to WARN everyone, that if your loved one has to be taken into care, you WILL lose everything!
Although this thread is a place to discuss the scary financial burdens. It is also a thread, to help anyone with coping strategies, everyone is welcome.

hunters

I'm not sure how you mean you lose everything, surely its more important that your loved one has the care they need? I'd certainly prefer my money was used for my care than be felt to be a financial burden to family.

Not entirely sure this is an OS topic?

suki1964

Surely you can't lose what you haven't got or had?

I was under the impression that you went to work, saved, bought a house, saved, bought a pension, saved, blah blah blah to see you through your life, no matter what happened

So lefts say you were unlucky enough to pop your clogs before spending the lot, THEN, and only then, did someone inherit


All this save money to pass down, what's that all about?

Gigervamp

I agree with the previous posters. The uncles money is doing exactly what it was meant to do, see him through his later years.

Also, this isn't an old style thread and should be moved to a more appropriate forum.

Tipsntreats

I DID state his care WAS more important to me. This thread is to prepare others. What if it is a husband or wife had to be taken into care? If they own their own house, then after all their savings have been depleted, leaving only £23,250. Then a charge will be placed on the property. It makes absolutely NO difference if a will states the property will be left, to whoever. The property will have to be sold and the cost of care paid back! That applies only if a partner is living in the property. If not then the property will have to be sold immediately! If a property is left in a will to the children, then they will inherit NOTHING!

GwylimT

How else do you expect care to be paid for?

Mojisola

Tipsntreats wrote: »

I DID state his care WAS more important to me. This thread is to prepare others. What if it is a husband or wife had to be taken into care? If they own their own house, then after all their savings have been depleted, leaving only £23,250. Then a charge will be placed on the property.

This isn't true. If a partner/spouse is living in the house then the value of the property is not counted in the financial assessment.

A couple's savings are also divided between the two of them and only those of the person in care can be used to pay for care.

missbiggles1

Tipsntreats wrote: »

I DID state his care WAS more important to me. This thread is to prepare others. What if it is a husband or wife had to be taken into care? If they own their own house, then after all their savings have been depleted, leaving only £23,250. Then a charge will be placed on the property. It makes absolutely NO difference if a will states the property will be left, to whoever. The property will have to be sold and the cost of care paid back! That applies only if a partner is living in the property. If not then the property will have to be sold immediately! If a property is left in a will to the children, then they will inherit NOTHING!

You're saying all that as if they're bad things! As long as the spouse is able to carry on living in the house until his/her death then that's exactly the way things should be.

Gigervamp

So what if the children inherit nothing. It wasn't their money in the first place, it was the parents hard earned cash and assets.

downshifted

I agree with the posters who say that ones own money must be used for care - and I think the original poster understands that too. I also think it must be a very stressful thing, to be responsible for someone with memory loss, and the OP is probably doing a lot to help her uncle in difficult circumstances.

suki1964

No one can inherit what isn't there

We all know we have to pay for care homes

If we haven't enough in savings our assests get used

Or do you suggest the tax payer funds it just so someone can "inherit"

We have enough people posting how can they fiddle to system as it is