Paying for care - whose account should we use?

[Hubbie]

My wife is 10 years into her Alzheimer’s condition. Our financial position is that my wife has savings in her name such that she would not currently qualify from means tested support. We have joint bank accounts which receive all our pensions etc and from which all bills etc get paid. I have some savings in my name. We are comfortable but not rich. All our accounts combined are a five figure amount! We pay for a carer to spend 6.5 hours with her one day each week so that I can have a break from caring duties. This is paid from our joint account. It’s not imminent but I am thinking the time when my wife may need to go into a care home so that I have a respite break may not be too far away. In the longer term my wife may have to go into care on a permanent basis.

I have LPAs in place and I think I some stage I should start paying for any carers or care home costs from her money rather than our joint account. This will bring forward the time when she will qualify for means tested support. Does that sound reasonable?

Also, when is it useful to get a care needs assessment and financial assessment? I assume it would make sense to do so when we are getting close to the point of qualifying for means tested support. Is that correct?

 

[Rayreadynow]

In England, if you have capital: over £23,250 – you'll have to pay all your care home fees until your capital drops below this amount. between £14,250–£23,250 – you'll have to contribute most of your weekly income towards your care home fees.

The local authority must assess you and your partner as individuals, regardless of whether you go into the same care home together. You should be financially assessed separately, based on your own capital and income, including your share of any jointly held capital assets.

 

[Kevinl]

It would help, you don't have to but are posting UK, England, northern Ireland, Wales or Scotland, rules and saving limits do differ. K

 

[victoriab70]

My wife is 10 years into her Alzheimer’s condition. Our financial position is that my wife has savings in her name such that she would not currently qualify from means tested support. We have joint bank accounts which receive all our pensions etc and from which all bills etc get paid. I have some savings in my name. We are comfortable but not rich. All our accounts combined are a five figure amount! We pay for a carer to spend 6.5 hours with her one day each week so that I can have a break from caring duties. This is paid from our joint account. It’s not imminent but I am thinking the time when my wife may need to go into a care home so that I have a respite break may not be too far away. In the longer term my wife may have to go into care on a permanent basis.

I have LPAs in place and I think I some stage I should start paying for any carers or care home costs from her money rather than our joint account. This will bring forward the time when she will qualify for means tested support. Does that sound reasonable?

Also, when is it useful to get a care needs assessment and financial assessment? I assume it would make sense to do so when we are getting close to the point of qualifying for means tested support. Is that correct?

Do everything now. Find out as much as you possibly can and take any help offered from wherever the offer comes. It’s a cliche but you need to look after yourself too, So have a carers assessment for you and a care needs assessment for your wife. Also, if you don’t have a financial adviser, then do engage with one for advice. They are worth the price you have to pay. Take care and stay well 👍🏻