Pensions

[Spamar]

OH his just gone into permanent care. He will be self funding for 12-18 moths, unless a trust of which he is a beneficiary pays out. However, that depends on someone dying and the vast array of solicitors who seem to be involved! Although the someone is 101!
He has always been the one with the regular income so all the regular DDs are from his account. I now think it is time to move them to my account. However, my money is going to be severely compromised. I was wondering if I could take or use half his private pension to pay those bills? When his care is from the LA I will get that amount, I understand, even when he dies I will still get half.
However, I don't want to upset the LA applecart at all. But without the money, I will have to dig into my own savings.
Many thanks!

 

[nitram]

I don't see any reason why half of his private pension could not be used by you, as you say this in line with what would happen if he were LA funded.

I would even go further and argue that you could use all of it for household expenses.
If he were still at home this is what would happen and the LA would not think it deprivation of capital, same with any state pension, it's only when the LA start funding that they take all the incoming cash they can.

Splitting the finances is a good idea.

I assume you have either EPA or LPA.

EDIT
He will be self funding for 12-18 moths,

Don't forget that next April the capital limits change
Lower limit goes from £14.25k to £17k
Upper limit goes from £23.25k to £27k (£118k if property that is not disregarded is owned)

 

[Saffie]

If your husband is going to need input from the LA, be careful. Our D/Ds were paid from out joint account, most of which contained my husband's state and occupational pensions as I had only the married woman's portion.
While my husband was self-funding, I didn't think it made a difference but the LA said that as he was no longer living here, the D/Ds should not have been paid from his him, not even half.

They refused to start contributing to the NH fees until my husband's capital reduced to £18,000 rather than the £23,250 even though the D/Ds amounted to nowhere near that amount, not even £500 never mind £5,000!

The LA financial advisor was very understanding but said it was my husband's money and the SW tried to change the mind of the financial officer but it made no difference.
Fortunately, I had savings and once the LA started to contribute, I was able to have half my husband's teaching pension which allowed me to manage.
It wasn't easy but it's not much better now on widow's pensions either, so I supposed it made me prepared.

Your LA may be more helpful though. I hope so for your sake.

 

[Saffie]

I would even go further and argue that you could use all of it for household expenses.
If he were still at home this is what would happen and the LA would not think it deprivation of capital, same with any state pension, it's only when the LA start funding that they take all the incoming cash they can.

(my bolding)

As you can see from my post above, the LA took the view that as he was not at home, it changed everything.
As my husband's Deputy, I rang the OPG and they took the view you have expressed Nitram, but the LA didn't.

 

[Spamar]

And this is the exact reason I asked! I have no idea what our LA is like, better start asking.

Yes, I've had EPA for several years to deal with another matter.

I've split our joint savings account, most of his half went on recent respite care anyway. Respite earlier this year and last year came out of income. The rest I put into his bank account to be used for his care. His bank account is joint in the sense that I am a signatory and can use it. My money goes into a separate account.
I thought if I could leave a couple of DDs in his account, like phone contract, it could then run out before I changed it. Plus the fact that extra money will have to come out of my savings.
Oh well, better start phoning!

Thanks very much, nitram and Saffie for your help.