Choosing a Home

• There may come a time in your life when you are no longer able to stay in your own home or require additional care.

• There are a number of options and it is often worth making some provisions well in advance.

• One of the first questions people ask is how much will it cost

• The next  - How can I afford it?;  What if my money runs out?

Sometime people wish to gift assets in advance of requiring care assistance. There are a number of legal implications, which require to be carefully considered.  

There’s no substitute for individual advice but you may find the following useful.

Each individual case is different but our solicitors and financial advisor can advise you what is best for you.  We may be able to arrange a Long term Care Bond or insurance plan which can help with the cost of care in your own home as well as residential care costs.

Broadly speaking if you have capital of more than £19,500 including savings, investments, shares and a house you will probably be liable for the full cost of a place in a residential or nursing home although may be able to claim an Attendance Allowance or Disability Attendance allowance

If you own your home and have less than £19,500 you will be given support until your house is sold.   If you have a husband or wife who shares the home the house will not be counted

If your capital is between £12,000 and £19,500 you will receive a subsidy towards costs and if your capital falls below £12,000 you are not expected to contribute from your savings.

People going in to a home for the first time have their need assessed by health professionals and the social services department