Hello, am new to the forum. I am in the process of applying to be a receiver for my father in law who has dementia.
I have a few questions which i would appreciate your comments on.
1. The Application process to be a receiver. For those that have done this, how long has it taken to complete, and to get approval to become the receiver ?
2. Depravation of Capital : My father in law has an investment bond which matured at the end of July 07. It is currently waiting to be either cashed or reinvested.
The amount has been taken into account already, by social services, when they worked out how much my father in law has to contribute to the care home he is in.
If i am approved as receiver, and i believe that it is in his best interests to reinvest the money, does this then mean that money will no longer be used when calculating his contribution to care home costs, and that it should be recalculated ? Or, will it be seen as depravation of capital ?
I have a few questions which i would appreciate your comments on.
1. The Application process to be a receiver. For those that have done this, how long has it taken to complete, and to get approval to become the receiver ?
2. Depravation of Capital : My father in law has an investment bond which matured at the end of July 07. It is currently waiting to be either cashed or reinvested.
The amount has been taken into account already, by social services, when they worked out how much my father in law has to contribute to the care home he is in.
If i am approved as receiver, and i believe that it is in his best interests to reinvest the money, does this then mean that money will no longer be used when calculating his contribution to care home costs, and that it should be recalculated ? Or, will it be seen as depravation of capital ?