My wife has Alzheimer's and will require residential care in the near future.
My wife has never worked since having children, as such she does not receive full state pension and has never benefitted from a legacy.
We have always run our affairs from a joint bank account. Any savings we have, ISA's have been funded from that account although taken out in individual names.
My wife's only income into our joint account has been her state pension the majority of the income being my occupational and state pension. My wife's contribution amounts to 13% in that joint account.
I understand that joint accounts are normally treated as a 50/50 split, but if you can prove the majority of the income comes from one party it can be viewed differently.
Does anyone have experience of such an arrangement?
I have split our incomes into separate accounts but will have to confirm that this was derived from a joint account. If and when my wife goes into residential care, does the fact that our finances were run jointly mean that arrangement must continue and she gets 50% of my pension?
Does any savings derived from the joint account also have to be shared 50/50?
I appreciate it is a complex field and any advice or experience would be welcome.
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