Where is the best place to go to get financial information

Discussion in 'I care for a person with dementia' started by 272Teri, Feb 8, 2016.

  1. 272Teri

    272Teri Registered User

    Feb 8, 2016
    My mum has been diagnosed with frontal lobe dementia. As I am only child with no close family all care and help is coming from only me. I am physically and mentally struggling as I have fought with all of the services. It took me just over a year to get someone to listen to my concerns then it took 6 months for social services to become involved.

    I have given mums financial information that I have access to and have been told that they cannot give me any confirmation of what they can do until I can get the last bank statement. I am in the final stages of the LPA so I cannot go to the bank yet. I feel that I may be better just looking at self funding ourselves with the money mum has available.

    Where is the best place to go to get the independent financial advise that I need to make this decision.

    I have been given help in the form of a career coming in morning and night this was after mum spent two weeks in respite care and they confirmed that mum was a lot further along than had been identified. Mum is going to day centre 4 days a week. We are funding some of this. This only happened after I kept explaining that mum was just walking the streets all day when I was at work.
  2. Amy in the US

    Amy in the US Registered User

    Feb 28, 2015
    Hi, Teri, and welcome to TP. I am sorry to hear about the situation with your mother; that must be very stressful for you. You are not the only one here on TP who is an only child (not to say it's not challenging, just to tell you that you are not alone) trying to do everything yourself.

    I'm sorry that I can't offer concrete advice (I am not in the UK) about the finances but know that someone who can, will be along shortly to advise you.

    I also hope fizzie or someone else will advise where you could turn, to get some support for you, a carer's cafe or something similar. TP is great, and always open, but it can be helpful to sit in a room with other people who know what you're experiencing.

    In the meantime I will just say that I have gotten a lot of support and advice here on TP and it's really been a lifeline for me this past year. I hope it will be helpful for you as well.
  3. nitram

    nitram Registered User

    Apr 6, 2011
    North Manchester
    Some questions:-
    Does your mum own a house?
    If you live with her in the house are you over 60 or disabled?

    Don't panic, when the LPA comes back you will be able to find out her assets, until then everything is working on surmise.
  4. arielsmelody

    arielsmelody Registered User

    Jul 16, 2015
    Although the LA won't make a decision without the full information, if you give an outline of your mum's assets and income I'm sure people here would be able to give you an idea of what you could expect. If your mum is still living in her house, the LA support would be based on her current income and savings.

    eg my MIL has around £14K savings, and her income is attendance allowance and her state pension topped up with pension credit (so pretty much the maximum you can have before becoming at least partially self-funding). She's currently getting 3 carer visits per day through the LA (the maximum would be 4), and she's contributing £185 a month from her income.
  5. AnneED

    AnneED Registered User

    Feb 19, 2012
    East Yorkshire UK
    Just a quick note in case it helps - if your mum has money that can be accessed for care you can use this to fund any sort of care you want prior to knowing whether you can get any other funding from the NHS or social care - so more respite or residential care can be funded whilst you are waiting for the long term to be sorted.

    Generally speaking if your mum has over around 14 thousand pounds in savings or assets she will be paying for her own costs anyway. There are specialist financial advisors who can help with exact advice - google financial advice and care and they should be referred to.
  6. Clemmy

    Clemmy Registered User

    Aug 14, 2015
    Financial advice


    There is a stiff learning curve when helping someone with dementia but you have come to one of the best places - this forum, and the people on it, have been brilliant when I have needed help.

    If you opt for some help from a financial adviser you are best to go with someone who has specific qualifications to deal with older people and their care needs - this advice costs and the need for taking advice depends on what funds your mother might have to manage/use!! Care fees funding is a specialist area and is best provided by a SOLLA adviser.

    I gather some banks are more helpful than others dealing with Powers of Attorney but once you have the LPA it will all be a bit clearer. Apply for everything your mother might be eligible for. Attendance Allowance has a time lag - you need to have had the condition for I think 6 months before you can get any help - it took 2 attempts first time round to get my relative Attendance Allowance - and then there was another lag before we could get my aunt the Higher Rate Rate of Attendance Allowance.

    There are various things that aren't hugely advertised - that if your mother has below £16,000 a year income and has one of a list of medical conditions (incontinence is one of them) you can get on a cheaper Water Tariff. Under certain situations people with dementia living on their own can get exempted from Council Tax. A lot of these benefits/reductions aren't advertised by the local Government or Utility Companies etc but if you ask here people may be able to suggest things - the Citizens Advice might have some pointers.

    My local library is great - if you are a carer you can get a special library card that allows you to access the Reminiscence Collection which has special materials to use with people with dementia along with lots of books to read on dementia too. The library has lots of books that you can use with your mum too - I am loaning a lot of picture books and DVDs for my aunt.

    If you have questions there are lots of people on this forum who have been where you are and will be able to give you some invaluable advice. Also the advice on the website and the phone helpline are brilliant.

    Take each day as it comes, come here if you need some help or just want to let off steam.

    Good luck.

  7. tigerlady

    tigerlady Registered User

    Nov 29, 2015
  8. Kevinl

    Kevinl Registered User

    Aug 24, 2013
    Hi Teri. welcome to TP
    Just as a rough guide;
    If she has more than £24k she'll have to self fund.
    If she has between £24k and £13k she'll get help with the costs.
    Under £13k and the council will pay for appropriate (as they determine it) care.
    So basically speaking if she has some tens of thousands in the bank the LA won't give you any financial help but they should be able to assist you in finding suitable help.
    If you're in the grey area between £24 & £13k they will want to see proof before they'll get their hand in their pocket, likewise if she's under the £13k limit they'll want proof of this.
    If it's obvious (from previous bank/Building Society statements) she is in the top or the bottom group then you know where you stand and just have to prove it to the council, if you're in the middle ground you will have to wait for the council to get a move on.
    Independent Financial Advisers don't necessarily come cheap so unless there's a substantial amount of money involved I'd give them a miss, bear in mind the social service may be unwilling to deal with them so they can't speed things up.
  9. Pickles53

    Pickles53 Registered User

    Feb 25, 2014
    Radcliffe on Trent
    IFAs do cost but I personally found their advice very helpful and worth the money it cost. Mine offered a free initial consultation with no obligation to go any further.

    However I think you would get more out of a discussion with a specialist IFA when you have established your mother's financial position as so much depends on exactly what her savings etc amount to.

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