Financial advice?

[picnic]

Hi all,

My dad has vascular dementia and has recently been advised by social worker to stay in a nursing home permanently. He has £27k savings from his early retirement payout, which we know will go towards his care. However where does mum stand regarding his penision etc? He has a state pension and a private one. She won't be able to survive on her pension alone xx

 

[Pickles53]

Hi all,

My dad has vascular dementia and has recently been advised by social worker to stay in a nursing home permanently. He has £27k savings from his early retirement payout, which we know will go towards his care. However where does mum stand regarding his penision etc? He has a state pension and a private one. She won't be able to survive on her pension alone xx

Hi and welcome to Talking Point. If your LA is going to be involved in funding your Dad's care then his state pension will go towards the fees, Attendance Allowance will stop, and half of his private pension will also go towards the fees. Your mum will be able to keep the other half of dad's private pension.

However, if your mum's income is reduced she may be eligible for other benefits e.g. Pension credit. If the private pension is very small, you need to check whether this would be better than taking the 50%.

There will be a financial assessment by the LA, but I'd suggest you get your own advice from the CAB, Age UK, or AlzSoc so you understand how your mum will be affected.

 

[picnic]

Thanks for the reply! We're currently applying for power of attorney so I can access the savings to pay for care. Unfortunately it's the only funds they have but fair enough if they go. Mum is awaiting the financial assessment but cogs seem to be turning super slowly!

So for now I think she'll be classed as self funding... social worker seems to think she'll get financial help when it's down to £14k? Will have to look into his pension to reassure her.... she can pay for care but nothing else. Ill ring CAB tomorrow- thanks so so much for your help xx

P

Hi and welcome to Talking Point. If your LA is going to be involved in funding your Dad's care then his state pension will go towards the fees, Attendance Allowance will stop, and half of his private pension will also go towards the fees. Your mum will be able to keep the other half of dad's private pension.

However, if your mum's income is reduced she may be eligible for other benefits e.g. Pension credit. If the private pension is very small, you need to check whether this would be better than taking the 50%.

There will be a financial assessment by the LA, but I'd suggest you get your own advice from the CAB, Age UK, or AlzSoc so you understand how your mum will be affected.

 

[Pete R]

Hi picnic,
The LA will get involved when your Dad's assets get to £23,250 although they really should be involved now as the assets are so near the limit.

If any savings are joint savings only half are normally counted as your Dad's

These 2 factsheets are worth a read.

http://www.ageuk.org.uk/Documents/E..._permanent_residential_care_fcs.pdf?dtrk=true

http://www.ageuk.org.uk/home-and-care/care-homes/paying-for-care-if-you-have-a-partner/

 

[HillyBilly]

So for now I think she'll be classed as self funding... social worker seems to think she'll get financial help when it's down to £14k? Will have to look into his pension to reassure her.... she can pay for care but nothing else. Ill ring CAB tomorrow- thanks so so much for your help xx
P

It's not your Mum who''s self funding - it's your dad. Your Mum pays for nothing. It's your Dad that pays for his own care and who will get financial assistance when his (and his alone) savings reach £23xxx. It's at that stage the LA has to step in.