question regards mortgage and bills

[BazArcher]

Hello Folks
Hoping this will not be a long windy post but I do have a major concern for later on as OH has AD, at the moment me and son have poa for finances although I doubt it will be needed until care home time.
The worst part is I'm 52 OH is nearing 50 so this has sadly struck young and we've yet to finish paying mortgage, I've stopped work and taken on full carer roll which I am ok with after the initial shock, thankfully managed to sort out a works health pension for OH which does cover mortgage and a few bills plus pip and esa for OH cover the rest easily, I on the other hand obviously only receive carers allowance and I know I will lose this and the pip when OH does go into care.
Its this major issue as that's liable to happen well before the mortgage finishes I presume at that point I will have to return to work I assume they will take OH's pension to pay for the care but will they take her half of the house to also cover the cost of caring.
As we're using OH funds to pay for upkeep of said home will the Poa require accounts to be separate or are they ok with bills and normal living costs coming from mostly OH's account ?.
Sorry its all over the place struggling to word it right to make sense

Baz

 

[Shedrech]

hi BazArcher
money is always a worry, especially when it's tight
as you are the spouse and living in the marital home, it will not be taken into account when assessing your spouse's finances
I'd be tempted to carry on as you are, making sure you know what is happening with both your finances (I'm assuming your spouse still has capacity, so all you are doing is helping action decisions made) - to me, personally, you both presently need to know you have a roof over your head, so paying the mortgage is an understandable priority for you both
I'd go and chat things over with your mortgage provider, after having a look online at comparison sites as Martin Lewis pointed out in a recent programme that most of us never consider moving our mortgage or making any alterations to it and there are good deals out there
also visit CAB and even your local jobcentre, to make sure you are getting all the benefits for which you are eligible
have you contacted your council to ask about a disregard for your spouse, so that you only pay at single person's rate, or is your son living with you
it may well be worth talking to one of the folk on the AS helpline

Alzheimer's Society National Dementia Helpline on 0300 222 1122 can provide information, support, guidance and signposting to other appropriate organisations.
The Helpline is usually open from:
9am - 8pm Monday to Wednesday
9am - 5pm on Thursday and Friday
10am - 4pm on Saturday and Sunday

I hope I've not said anything untoward
best wishes

 

[LynneMcV]

This is a similar situation to that of my husband and I - early onset dementia, working age with mortgage to pay off.

I don't profess to have the answers, I'm sort of muddling my way through things too - but I can confirm that as you are the spouse living in the marital home the property will be disregarded for care home fees.

If it is a joint mortgage your wife will become responsible for her share of the mortgage and you'll be responsible for your share.

You will also be entitled to half of any works pension your wife receives (not state pension though, once she reaches state pension age the full pension will go to her care).

I've found the easiest way to handle the money is to keep our joint bank account open so that my husband's works pension can continue to be paid into it (as I am entitled to half of it, this shouldn't be a problem). All the household bills and mortgage come out of the joint account.

However I also set up individual accounts for each of us. My husband's PIP gets paid into his together with any individual money from birthdays, Christmas etc.

I am currently working a three day week and the money from this goes into my own account. Within a few weeks I will be dropping down to one working day per week and will start to claim Carers' Allowance - again, this will continue to be paid into my own account.

I keep an eye on the household bills and top up our joint account from our individual accounts as and when needed (keeping a note of what the money has been spent on from my husband's account).

As we are under one roof I consider all household bills to be joint. However, should my husband go into care I believe that I can carry on taking my husband's share of the costs for house insurance and essential maintenance of the property (to protect his asset) but that he would no longer be responsible for the cost of utilities as he would no longer be using them.

As someone has already said, do make sure that you are claiming any reduced council tax you might be entitled to while you wife is living at home. In my case we don't qualify because our adult son and daughter are still at home.

 

[BazArcher]

Hi Folks

Thanks for the replies and phew I can breathe a big sigh and continue this journey with one less problem, as to the council rates I did enquire but sadly as was posted in 1st reply our boy is still at home and now in work so as befits the usual problems of having worked/paid tax and doing everything correctly we get no help from them ..... sorry if that sounded bad but I've learnt one thing over the last year or so of dealing with government bodies, is be tough minded and basically downright obnoxious, never really helps get anything but I usually feel better afterwards.

Happy Days keep smiling and buy a new pair of dentures for when you grind your teeth down.

Baz

 

[LynneMcV]

Happy Days keep smiling and buy a new pair of dentures for when you grind your teeth down.

Baz

Good advice!