Having sold a property, and living in temporary accommodation we are waiting to buy a care plus apartment. is there anywhere we can put this money where it would not be taken into account if a care home were needed before we sort out another purchase (we are on a long waiting list)
Protecting housing money
- Thread starter Dunroamin
- Start date
hi @Dunroamin
I wouldn't try to hide any money, as that may then be seen as deliberate deprivation of assets
even should you need to move into residential care, you and your spouse may use your joint monies to buy a new property, where your spouse will live, as long as you buy it together so you both maintain a financial interest in the property
half of any monies left over will then be considered as your assets and so form part of your savings to be taken into account in any financial assessment regarding payment of your care fees
I wouldn't try to hide any money, as that may then be seen as deliberate deprivation of assets
even should you need to move into residential care, you and your spouse may use your joint monies to buy a new property, where your spouse will live, as long as you buy it together so you both maintain a financial interest in the property
half of any monies left over will then be considered as your assets and so form part of your savings to be taken into account in any financial assessment regarding payment of your care fees
these may help explain
www.alzheimers.org.uk
www.ageuk.org.uk
Paying for dementia care in England
Dementia care isn't free, and you may need to pay for some of the care you or someone you know needs. We help you understand the different ways to pay for care, and the amount you might be expected to pay.
www.alzheimers.org.uk
Paying for permanent residential care | Paying for a care home | Age UK
Care home fees can range hugely depending on the facilities or location of the home. Find out how to make residential home costs manageable from Age UK.
www.ageuk.org.uk
