Getting financial advice

[Helly68]

Apologies if a lot of this has been covered elsewhere, but we are seeking financial and legal advice about care home fees in the future. I did try looking at other threads but wasn't sure I could see what I am interested in.

Basically, we are self-funders for my mum in a care home, where she has been for almost two years. We are rapidly going through my parents savings and are considering what the next steps are. My father lives in and owns their house.

Has anyone sought advice form either an independent financial advisor or solicitor as to where we stand with what happens when savings run out?

Do we have to sign some kind of agreement to defer payment against the house value after my father dies? How great is the risk of my mother being moved if we look at the council funding? I think property can be disregarded as an asset if someone is living in it? I am confused and trying to get professional advice about what seems to be a minefield. Has anyone got this sort of advice? Was it worth paying for?

 

[nellbelles]

Yes you are correct the house is disregarded while your father live there.

 

[karaokePete]

I don't have experience of the situation, however, in the hope that it helps I've put a link to the relevant Society Factsheet. Click the PDF line for an easy read or to print the document

Paying for care and support in England (532)
PDF printable version

 

[Louise7]

You are right, the house will be disregarded if your father stays living there. A deferred payment would be an option if your father passed away before your Mum and you didn't want to sell the house but her care home fees would still have to be paid back at some point. If you apply for council funding they will conduct a financial assessment to calculate how much they will provide towards your Mum's care costs. With regards to whether she would need to move homes this would be dependant on a number of factors. The council will usually only fund up to a certain amount but there would be an option for family to pay an additional 'top up' to cover the shortfall if the home costs more than the council will fund, but this is voluntary. Some care homes will accept the council rate so it would be worth asking your Mum's home if they would consider this.

 

[Helly68]

Thanks for the replies so far. It is very complex....

 

[Beate]

Why are you using both your parents' savings for your Mum's care home? Only she should have to pay - 50% a joint account will count as yours in any assessment. When her savings, and only her savings, drop below £24,250, the council should start paying towards her care - when they drop below £14,250 they should take over the payments (though she will have to contribute her pension minus a personal allowance of £24). Of course, if they pay they have the say, so they will look for the cheapest home that can meet her needs. That might mean a move. But they have to offer her at least one within their budget that meets her needs. If they are all more expensive, they will have to up their budget.

 

[Helly68]

Thanks for your replies everyone. My Dad never wanted any financial assessment. I am not sure honestly if the savings are his or joint, I think we need to get wider financial advice. I am panicking a bit as if we run through all of the savings, the value of their house (if he is no longer in it) as we could do, I understand that they can then ask other family members for "discretionary" contributions with the worry of them moving her to a cheaper home if we don't pay them. My priority is her safe and happy time in a home. It is a minefield and because we are self-funders, there was no obvious source of advice when we started.

 

[Jessbow]

They can ask family members to top up- you are perfectly entitled to say no.

That might mean she is moved to a cheaper home,

Your father really doesn need a financial assessment ( or rather your mother does) as she may already be contributing too much.

 

[Sirena]

There is a possibility that if/when your mother can no longer self fund, the current care home will agree to keep her on at the Local Authority rate, so she can stay where she is. It's at the discretion of the manager and it depends how long she has already been there paying the full private rate, I think them to have been self funding for a couple of years at least. My mother can self-fund for four or five years, but I am hopeful her care home will keep her on after that if she outlives her funds.

 

[Helly68]

I hope that they may. To be honest we should have got a financial assessment - some of the money was held jointly some not, so it wasn't clear cut and my father refused an assessment. We needed to get her in a safe place and once you start paying.....
I think I need to persuade him we do need an assessment - he is capable of understanding it I think at the time we made the decision he was terrified of having to look after he alone and we were only too happy to find somewhere that she settled in. We've been self funding for nearly two years so fingers crossed she would be able to stay.
It seems almost wrong to worry about money when theres so much else to worry about.....I realise we are lucky that she has a good home place.

 

[Baker17]

I hope that they may. To be honest we should have got a financial assessment - some of the money was held jointly some not, so it wasn't clear cut and my father refused an assessment. We needed to get her in a safe place and once you start paying.....
I think I need to persuade him we do need an assessment - he is capable of understanding it I think at the time we made the decision he was terrified of having to look after he alone and we were only too happy to find somewhere that she settled in. We've been self funding for nearly two years so fingers crossed she would be able to stay.
It seems almost wrong to worry about money when theres so much else to worry about.....I realise we are lucky that she has a good home place.

When I got a financial assessment done I filled in a form stating only the PWD savings, so they don’t get to find out what savings the other person has, when I did it for my PWD I filled out the forms then went for an interview with evidence of the savings, ie bank statements bank books and they only asked for them going back to when we started self funding the home, it wasn’t as stressful as I thought

 

[Buzzybee77]

When you look for an IFA look for one that is SOLLA qualified (Society of Later Life Advisers). They should offer you a free initial consultation. Look on the SOLLA website for ones in your area.

 

[Helly68]

When you look for an IFA look for one that is SOLLA qualified (Society of Later Life Advisers). They should offer you a free initial consultation. Look on the SOLLA website for ones in your area.

Thank you for your replies, very helpful

 

[Helly68]

When I got a financial assessment done I filled in a form stating only the PWD savings, so they don’t get to find out what savings the other person has, when I did it for my PWD I filled out the forms then went for an interview with evidence of the savings, ie bank statements bank books and they only asked for them going back to when we started self funding the home, it wasn’t as stressful as I thought

Thanks for this, very helpful

 

[MTM]

Thanks, this has helped me too as we are dealing with the same questions ...

 

[Helly68]

I have left a message for the Local Authority financial assessment team - who never seem to answer their phone, and await their response.

 

[Helly68]

Just an update - for anyone else looking to go from self funding to being assessed by a Local Authority.

The Council got back to me to say that the first step is for my mother to be assessed by Social Services. She was assessed, about five years ago, but was deemed too well, effectively, for them to offer us anything. Sadly she has deteriorated a lot since then and is now in the dementia unit of a care home.
I will update again to let everyone know how the process goes, bearing in mind that all assessments are individual in terms of the needs of the PWD and specific financial situation.

 

[Anna 2424]

When you look for an IFA look for one that is SOLLA qualified (Society of Later Life Advisers). They should offer you a free initial consultation. Look on the SOLLA website for ones in your area.

This is so useful, exactly what I need I will contact them today. Two parents, seperated but not divorces, both with dementia, one with a home and one with nothing. How does that square up in terms of financing care homes is a total mystery. Thanks!

 

[Helly68]

Just an update - we had the first stage of our assessment, an assessment of my mother, in her care home by social services.
The social worker was very nice, even asking how myself and my father were coping. She also interacted with my Mum, though she could see that Mummy really couldn't answer her questions. I don't think they can dispute that Mummy needs the sort of care provided by a care home (though I know this isn't everyone's choice), but you never know. We have submitted our evidence for the financial assessment so we just have to wait and see.