We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Care home fees - how to calculate someones worth/assets
PrivateRyan
Posts: 44 Forumite
Father in law faces real possibility of having to go into a care home (dementia). This post isn't about trying to prevent care home fees, but rather - exactly how will they go about working out father in law wealth 'vs' mother in law.
Up until recently, they haven't given the splitting of money/assets etc.. a second thought (note: they do have a property trust will) - both healthy and both just about to start enjoying retirement. They have joint bank account and his pension is the larger of the two. In fact, i'm not sure she is drawing her pension yet, she had to retire slightly early to care for husband.
He is sadly going downhill very quickly. His wife is worried that their retirement fund/nest egg could be considered "his" and lose the lot, leaving her with the minimum. The reality is, a good portion of their wealth (not considerable) has come from him - but usual story of homemaker 'vs' chap who worked nights 30 years to earn a living.
Does mother-in-law have to prove how much of the "pot" came from her, meaning 'his' wealth (and therefore fees) are calculated on the remaining?
How does mother-in-law come through the other side of this with at least "something" ?
Sorry if wrong thread or answered before.
Up until recently, they haven't given the splitting of money/assets etc.. a second thought (note: they do have a property trust will) - both healthy and both just about to start enjoying retirement. They have joint bank account and his pension is the larger of the two. In fact, i'm not sure she is drawing her pension yet, she had to retire slightly early to care for husband.
He is sadly going downhill very quickly. His wife is worried that their retirement fund/nest egg could be considered "his" and lose the lot, leaving her with the minimum. The reality is, a good portion of their wealth (not considerable) has come from him - but usual story of homemaker 'vs' chap who worked nights 30 years to earn a living.
Does mother-in-law have to prove how much of the "pot" came from her, meaning 'his' wealth (and therefore fees) are calculated on the remaining?
How does mother-in-law come through the other side of this with at least "something" ?
Sorry if wrong thread or answered before.
0
Comments
-
If you don't find joy in the snow,
remember you'll have less joy in your life
...but still have the same amount of snow!0 -
What organisation or type of company could best guide the mother-in-law. I've read part of the ageuk page (thanks again) and i'm still unsure on a couple of things. Since father-in-law is "not quite in a home yet", they need help on how to best prepare their finances.
It's things like this ... only a 2 months ago, they needed to buy a new (nearly new) car as he cannot get in/out of their old one. I am pretty sure, this came out of the "joint" account, whereas perhaps - someone might indicate that the purchase was solely to do with his condition.
It's a nightmare - i dont mind paying for help, but not sure where to turn for expert advice?0 -
http://www.housingcare.org/downloads/kbase/3092.pdf
Has Attendance Allowance been applied for?
https://www.ageuk.org.uk/globalassets/age-uk/documents/factsheets/fs34_attendance_allowance_fcs.pdf0 -
Just checked, he is getting PIP so as i understand it ... AA isn't on the cards?
i'll read those PDFs more later, meanwhile - thanks for sending.0 -
No - he cannot get both PIP and AA.
https://www.independentage.org/information/money/benefits/benefits-hospital-and-care-homes0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.6K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.3K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards