Care costs advice

I suspect that might be what changes when the 'new rules' come in - in about two year's time. I know that, in the proposed changes, there would be a charge put against property even if a person was cared for at home.

From age UK

Are you over 60?
If your care home is permanent, it won't be counted if it's still occupied by:

your partner or former partner, unless they are estranged from you
your estranged or divorced partner IF they are also a lone parent
a relative who is aged 60 or over
a relative who is disabled
a child of yours aged under 18

Separate all your joint accounts so that each of you has your own separate accounts and your wife or you as POA should ask the Pensions Agency to pay her state pension into her named account..

On another thread I have written of the problems of having a POA for a couple where the couple had shared bank accounts.

Mt understanding is that a charge can be put on your wife's share of the house which has to be repaid plus interest when the house is eventually sold.

caretobedifferent.co.uk/paying-for-care-have-a-partner/

Thank you. I have contacted Alzheimer's, AgeUk and an independent consultant for advice but cannot get answers to my key questions. It appears there is no clear common approach to financial assessment.

Thank you for your defence. You have to try to use whatever rules you can to your advantage.
As I mentioned I am not trying to hide any funds but feel it clearly highlights our individual incomes by separating our accounts but I will admit it was custom and practice that we previously had a joint account.

Thanks for your observations.
I have read up extensively and appreciate the situation with the house. I will continue to live in the home so will not count. The 50/50 does normally count in care costs consideration, according to AgeUk.
No, I am not trying to hide any issue, merely trying to use the rules to argue against the cost of residential care.

Thanks.
I am not delittling my wife's contribution to the family, mearly minimising the cost of expensive residential care, which I think most people would try to do.

I agree with contacting Age UK.
They were very helpful to me when my H also with Alzheimer’s went into care.
Alzheimer’s does not count for continuing care and SS told me that both my H’s pensions would be taken, actually only half of his occupational pension could be used along with all his OAP and AA.
Good luck with it all.

Hithere, Peter is concerned that the assessment of his wife’s care costs will assume she owns half the money and savings they have, when in financial terms she has contributed very little to their overall wealth. He isn’t trying to belittle her contribution to the marriage or take money from her, just to try to prevent an assessment assuming she has contributed 50% of their money.
Peter I have no experience of this. Others probably will. My only suggestion is to consult Age UK, who could probably give the answers you seek or point you in the right direction. The situation is complicated by your wife’s Alzheimer’s and even if you have POA to act for her you do of course have to act in her best interests rather than to preserve your own financial contributions to the pot. As I understand it you have split a joint account into separate ones. I hope that was done whilst your wife was still capable of agreeing?

From what I understand, the idea of a 50/50 split is related to divorce settlements, not care home fees.

I don't think you will be able to claim that your wife has no income and expect not to be charged, unfortunately. If her name is on the deeds of the house, it will count as an asset in her name, so fees will be charged against that, as well as any savings, although the house will not have to be sold as long as you are living in it.

You might need independent advice, but it looks as though what you are hoping to do (if I have read your post correctly) will count as deprivation of assets, which will be picked up very quickly.

Why do you want to separate the income into two different accounts?

Your wife, while she didnt hold an occupation outside the home, did work full time for many years, I assume.
Being a stay at home mom is a job, while it is not recognized as a paid one.

Generally, the income of a married couple is shared 50/50.