Cost of care - does home need to be sold

[robin1965]

My neighbour is having to go into care due to dementia.

His son has been looking after him and has power of attorney and lives with his dad. His son is
40 and very stressed with it and suffering also from depression so I am making enquiries. He works,
his father is retired and only 69 and has deteriorated quickly in the past 2 years.

The father who is going into care has savings and owns the flat outright.

Will they have to sell up to pay for care or is there a way around that?

The great concern given where property prices are is house prices/rents so it is a massive
financial worry for the son.

 

[SAP]

This must be very tough for the son right now.
The short answer is yes the flat will need to be sold to pay for the dad’s care unless of course he has plenty of savings. There are some exemptions to this but I don’t think any will apply to this situation as you have described it. The following link gives a good explanation of what the son needs to know.

Do I Have to Sell my Home to Pay For Care? | Age UK

We explain the means test and property and when you have to sell your home to pay for care. Find out more information from Age UK. Read now.

www.ageuk.org.uk

 

[Bod]

Being a flat, I expect it is Leasehold, and should be valued as such, some leaseholds are almost valueless due to the conditions of the Lease.
If this is the son's only home and has been for a long time, or he gave up his own home specifically to care for his father then that can be taken into account.

Bod.

 

[Violet Jane]

Leasehold flats held on long leases should not have little value. They are bought and sold like freehold properties.

The son can apply for a discretionary disregard but may not get it. If it's always been his home / he has lived there a long time / he gave up his own home to look after his father / he has vulnerabilities he might get it. He should try and find someone (e.g. a carers centre or CAB or friend or relative) to support him.

If he can't get a discretionary disregard then he could consider whether having lodgers would raise enough to pay the care fees when added to his fathers pension(s) and Attendance Allowance. Any savings of the father could cover any shortfall, at least for a while. I realise that this is probably unlikely.