Hello
Please please can anyone help. I know i may of asked these sort of questions before but my head is all over the place and to be honest I cant remember what ive asked and what I haven't. My mum is in a care home, she went permanent on the 6th Feb, and at the moment she is paying a contribution towards the care fee's of £200 per week but at the beginning of May when the 12 week property disregard ends, she will be classed as self funding, as she owns her own home. Her house is currently on the market and it looks like it wont be long before it sells, which I know is a good thing, but it just really really upsets me to think that all the funds from the sale of the home, will go to pay the care home fee's of £750 per wk and continue to do so until she is down to £23, 250.
I was hoping to set up a care plan for her, which is a bit like a life assurance policy, the idea with that is that the plan is bought with some of the funds from the sale of the house, and what ever is left is passed on to me as inheritance as my mum & dad would have wanted, but unfortunately when they've worked the figures out, it would cost more for the plan than what the house is up for sale for, so thats out of the question. I just cant get over the fact that literally everything that my mum & dad have worked for, is going to get eaten up by the care home fees. So what I wanted to know was, is there anything at all that I can do to try and protect some of the funds in my mums house. Please dont get me wrong, im not trying to get out of paying care home fee's, I understand they have to be paid, its just that it seems so wrong that literally all the funds from the house will just dwindle away to there's hardly anything left.
Any advice or help is greatly appreciated, I just feel totally lost and upset by it all
Please please can anyone help. I know i may of asked these sort of questions before but my head is all over the place and to be honest I cant remember what ive asked and what I haven't. My mum is in a care home, she went permanent on the 6th Feb, and at the moment she is paying a contribution towards the care fee's of £200 per week but at the beginning of May when the 12 week property disregard ends, she will be classed as self funding, as she owns her own home. Her house is currently on the market and it looks like it wont be long before it sells, which I know is a good thing, but it just really really upsets me to think that all the funds from the sale of the home, will go to pay the care home fee's of £750 per wk and continue to do so until she is down to £23, 250.
I was hoping to set up a care plan for her, which is a bit like a life assurance policy, the idea with that is that the plan is bought with some of the funds from the sale of the house, and what ever is left is passed on to me as inheritance as my mum & dad would have wanted, but unfortunately when they've worked the figures out, it would cost more for the plan than what the house is up for sale for, so thats out of the question. I just cant get over the fact that literally everything that my mum & dad have worked for, is going to get eaten up by the care home fees. So what I wanted to know was, is there anything at all that I can do to try and protect some of the funds in my mums house. Please dont get me wrong, im not trying to get out of paying care home fee's, I understand they have to be paid, its just that it seems so wrong that literally all the funds from the house will just dwindle away to there's hardly anything left.
Any advice or help is greatly appreciated, I just feel totally lost and upset by it all