My wife is 10 years into her Alzheimer’s condition. Our financial position is that my wife has savings in her name such that she would not currently qualify from means tested support. We have joint bank accounts which receive all our pensions etc and from which all bills etc get paid. I have some savings in my name. We are comfortable but not rich. All our accounts combined are a five figure amount! We pay for a carer to spend 6.5 hours with her one day each week so that I can have a break from caring duties. This is paid from our joint account. It’s not imminent but I am thinking the time when my wife may need to go into a care home so that I have a respite break may not be too far away. In the longer term my wife may have to go into care on a permanent basis.
I have LPAs in place and I think I some stage I should start paying for any carers or care home costs from her money rather than our joint account. This will bring forward the time when she will qualify for means tested support. Does that sound reasonable?
Also, when is it useful to get a care needs assessment and financial assessment? I assume it would make sense to do so when we are getting close to the point of qualifying for means tested support. Is that correct?
I have LPAs in place and I think I some stage I should start paying for any carers or care home costs from her money rather than our joint account. This will bring forward the time when she will qualify for means tested support. Does that sound reasonable?
Also, when is it useful to get a care needs assessment and financial assessment? I assume it would make sense to do so when we are getting close to the point of qualifying for means tested support. Is that correct?