Nana3
My Mum has less than the £23, 250 in savings but I was told during her assessment that she has to contribute because her savings are at the top end of this limit. Huge bills keep coming.
So this figure is a myth isn't it?
I discovered top up fees paid for by the family when my mum went into care, for the best care homes they are huge, can I use her savings to pay them?
Also care homes charge a huge range of fees, so choice is only for the wealthy, most LCC care homes are full, it's inevitable that if you need care you will pay all you have isn't it?
I know too late about making the right provision in your will, leaving money in trust, also safeguarding some of the value of the house. Not leaving everything to your spouse so that the children have no legacy after everything is taken in care home fees. My parents did non of that. But what is your opinion on how we prepare our finances for future care?
Thank you in anticipation for helping with such worrying financial issues for families.
There are two levels of threshold that the local authority works to. If your mum's savings and assets are less than £14,250, then all her bills will be paid by the local authority, but when someone's capital is between £14,250 and £23,250, then a contribution on a sliding scale would be made. The rules are complex, so if you go to Getting local authority funding for a care home on the Which? Elderly Care website you will find more information.
For top-up fees, they have to be paid by a third party and not from your mother’s savings, which is why they are more usually referred to as third-party top-up fees. However, do bear in mind that if someone is assessed by social services as needing a care home, that they have a duty to meet this need. Furthermore, if a resident has under £23,250 in income and assets, the local authority must assist in identifying a care home that doesn’t require a top-up, has a vacancy and meets the assessed needs.
If you want to talk through options for planning for future care, we have a free Elderly Care Money Helpline where we can give you more information.