How to split a joint account for Financial Assessment

longforgotten

I need to fill in a financial assessment form with regard to care home funding.


Need advice with regard to a bank current account held jointly between married couple. Scenario being say balance in account at date of going into care home £30k, Paid £2000 per month out of this account to fund care home for three months, So the balance left in this account if £24k.


The question, when filling in the assessment form, should I still class this account as joint and therefore still £12 k each, or allocate the care costs paid to the person in the care home and the split is then £9k ( £15k less £6k) and £15k

converted

i would go ahead and put in the 9k -explaining your reasoning - which is a sound argument. Also make sure you have the statements that show the payments of 6k for care - I really don't think they could argue the point.


good luck

teddysmum

Joint accounts are problematic when looking at care assessment, as while the account is open, joint holders are considered to each own half of the contents.


Suppose, to simplify, the threshold for help was £25000 and a joint account contains £60000 (ie £30000 each).


Some would expect that using £5000 from the account would leave the person needing care with £25000 (so beginning to get some help) and the other person £30000, but this is not the case.


When the £5000,is taken out, it is assumed that the remaining £55000 is jointly split so each has £27500. Therefore before any free care is given the total in the account has to be just £50000,meaning that £10000 and not the expected £5000, needs to be used up. (Of course it isn't that simple, as at the threshold some money still has to go towards care, until the person's assets are around £14000??)


Could the person not in care takeout their half and put it in a separate account, perhaps leaving the joint account to become sole ?

longforgotten

Thank your for your help.


No advice from Social Services , they 'give no advice' , 'come back when you're below the threshold'


As the person in care has dementia and no LPA in place, it would appear that the partner, not in the care home, will be funding 1/2 of the fees............doesn't seem fair

teddysmum

longforgotten wrote: »

Thank your for your help.


No advice from Social Services , they 'give no advice' , 'come back when you're below the threshold'


As the person in care has dementia and no LPA in place, it would appear that the partner, not in the care home, will be funding 1/2 of the fees............doesn't seem fair

There is nothing stopping the person still at home from spending/using their share before it goes to subsidise the unfair 50/50 assumption. In a joint account, both people have equal access.

SandraScarlett

PS - I would say it is perfectly acceptable to use the balance, for the purposes of the form, as being £9K for the person in care, and £15K for the person not in care, and state your reasons why.

SandraScarlett

longforgotten wrote: »

I need to fill in a financial assessment form with regard to care home funding.


Need advice with regard to a bank current account held jointly between married couple. Scenario being say balance in account at date of going into care home £30k, Paid £2000 per month out of this account to fund care home for three months, So the balance left in this account if £24k.


The question, when filling in the assessment form, should I still class this account as joint and therefore still £12 k each, or allocate the care costs paid to the person in the care home and the split is then £9k ( £15k less £6k) and £15k

My first message deleted - sorry. I had the same problem when my late husband went into care, and I moved half of the balance to a separate account in my name, and then when, for example, my SRP was paid into the joint account, I moved that amount to my account.


I agree the help from the authorities is zilch, especially as the spouse has probably had an exhausting and difficult time, caring for someone with Alzheimer's.


Once he reached the threshold, my husband was charged all his SRP, less about £25 "pocket money", and half his private pension. If I can give any more help, please PM me.


xx