My 95 year old mum has suddenly gone into decline with dementia, she is otherwise physically fit and had been totally independent till about a year or so ago, but in the last few weeks needed 24 hour care. I have managed to get some wonderful carers in place, she has available funds for about six months but what happens when that is used up and she only has her flat (worth about £270,000) where she is living? I have tried her in a care home but it did not work out and in any case would cost a lot more than the carers I am employing and I feel (so does she) that she is much better off in her own familiar surroundings. I have been advised not to take equity release on her flat as the costs are very high and you end up only getting a proportion of the value. As well as the shock of her condition I am in a panic about finances as I am an only child with no other relatives, on a low income myself and will only have the State pension to live on. Of course I want mum to be happy (she seems to be) but the financial strain is extraordinary. Does anyone have any useful ideas to share and is in a similar situation?
Finding funds for care
- Thread starter TaraM
- Start date
Hello @TaraM, welcome to the forum.
You and your mum will be entitled to a care needs assessment and a financial assessment.
Here's a link to the appropriate Factsheet which will outline the system for you
https://www.alzheimers.org.uk/media/8211
You and your mum will be entitled to a care needs assessment and a financial assessment.
Here's a link to the appropriate Factsheet which will outline the system for you
https://www.alzheimers.org.uk/media/8211
Tara, don't worry too much - you will never be asked to contribute to her care financially, and as long as she still lives at home, her property is safe and will not be added to a financial assessment. Once she is under £23,250 in savings the council will have to start part-funding, and once she is under £14,250, they will have to fund completely. If her funds only last for another six months, you best make contact with Adult Social Services now, as they work slowly.
Id just like to point out, though, that the Local Authority will not fund live-in carers. They have an upper limit that they will fund, which is usually 2 carers 3 or 4 times a day.
