My Dad (91) looks after my Mum at there home but she is now on a list to go into a home. My Mum was a housewife and my Dad worked. They had separate accounts (and still do) but he put more money into joint accounts when Mum was unable to bank. Are joint accounts taken into account when assessing self funding? Mum's account still has more than the £23,250 meaning we'll pay for her care but I'd like to safeguard money for my Dad if possible.
The house is also in joint names and I believe cannot be taken into account if my Dad (or brother?) is still living in it. Is that correct? Lastly we've been advised to set up a tenants in common. Can somebody please explain what that is for?
Thanks
The house is also in joint names and I believe cannot be taken into account if my Dad (or brother?) is still living in it. Is that correct? Lastly we've been advised to set up a tenants in common. Can somebody please explain what that is for?
Thanks