Money and potential care in the future

Tears Falling

Registered User
Jul 8, 2013
637
In theory can my mum and indeed my dad pay for their funerals upfront out of the funds they have. Thinking that in the future mum will likely need residential care and am wondering whether they can spend their money on this sort of thing. They are adapting the house etc for now and using their funds tondo so.

Would that be seen as deprecation of assets in relation to funds for self funding and future care fees being met by the state?
 

withy

Registered User
Feb 23, 2013
95
Lancashire
In theory can my mum and indeed my dad pay for their funerals upfront out of the funds they have. Thinking that in the future mum will likely need residential care and am wondering whether they can spend their money on this sort of thing. They are adapting the house etc for now and using their funds tondo so.

Would that be seen as deprecation of assets in relation to funds for self funding and future care fees being met by the state?
I asked a solicitor about this and was told it was OK to do it. So I have paid for 2 funeral plans, for my husband and myself.
 

marionq

Registered User
Apr 24, 2013
6,003
Scotland
I have invested in a plan with Age UK for my SIL on the grounds that if husband and I were not here there would be no one to organise a funeral. I have insisted that details of her policy are entered onto the records held by her sheltered housing management.

I have also given copies of the policy to two distant but next nearest relatives to make sure everyone knows who to phone should she die and we are not here to do the necessary.

Once done it is one less responsibility to bother about.