The cost of social care can be daunting for any family. No matter what your family circumstances may be, the cost of care can prove to be a heavy burden.
To protect your family, it is important to plan ahead for how you will cope should you or a family member need to pay for care.
In the UK, the average monthly cost of residential care is £3,290, rising to £4,160* if nursing care is required.
Our partner-led team of solicitors understand the strain many families experience at the hands of care home fees, and can offer advice to help support the needs of you and your family. We understand your situation is unique, and will take the time to offer the best solutions to ease your financial burden.
We offer our services at your convenience either in-person, over the phone, via email and through the post, so you can benefit from our advice no matter where you live.
*According to carehome.co.uk as of August 2023.
At present, your Local Authority will take into account any assets worth over £14,250 when assessing if you should contribute towards your own care home costs.
If your Local Authority assesses you as needing residential or nursing care, you should be means-tested to understand how much you should contribute towards the cost of that care.
The means-test is mandatory (if you are seeking Local Authority funding) and takes into account both your income and your capital.
Unfortunately, care funding rules are complex, and mistakes are often made when assessing how much someone should pay for their care. If you think you have been incorrectly assesed, you may be entitled to make a claim.
The value of your property is currently disregarded from the assessment criteria if your spouse is still living in the house. However, if both you and your spouse are in a care home, your Local Authority will include the value of your share in the property and any other financial assets, such as shares and savings.
If this is the case for you and your spouse, it may be worth amending your Will to leave your share of the matrimonial home into a family Trust. The trust would work for the benefit of your surviving partner, who would be able to live in the home rent free during their lifetime. However, your spouse would not be deemed to own your share of the property if they were ever assessed in relation to the cost of their care.
Our specialist care home fees lawyers will be able to advise you on the pros and cons of creating a Trust in your Will, and will help you find the most suitable solution to support both you and your family.
Yes, but there are risks. You may decide to give away your assets prior to going into care. However, if your Local Authority believes you have done this to avoid paying care home fees, they could decide to disregard the transaction. This is called “deliberate deprivation of assets”. This means you will be assessed as if you still owned the assets.
It is also important to note that if your Local Authority has been paying for your care home fees and later discovers that you gifted assets to avoid paying costs yourself, they may be able to enforce powers of recovery.
This means you could be required to pay back your care home fees in one lump sum.
While it is still possible to pass assets to family members and friends, this is a complicated area of law. If you plan to pass assets onto another party, we recommended seeking advice from a qualified solicitor.
If you plan to gift assets to your friends or family members to ensure they receive some form of inheritance, it is important to ensure you do this well in advance of moving into a care home.
When your local authority carries out a means test, they will consider three factors in gifting assets:
Amount – How significant is the amount you have gifted to a friend or family member?
Reason – What was the reason for gifting assets? Your local authority will make a decision on whether the gift was made to avoid care home fees, or to allow your friends and family members to enjoy their inheritance before you enter care.
Time – When were the assets gifted? If the assets were gifted long before you knew you needed to enter care, the gifts are less likely to be considered.
If you, a friend, or a relative is entering into care, seeking advice about residential fee costs can be an important first step.
Our experienced Wills and Estates team is made up of expert solicitors, some of whom are accredited by Solicitors For The Elderly, and have years of experience advising families who are considering care.
We can advise on a range of matters, including alternative funding options, deferred payment agreements, deprivation of assets rules, NHS funding, and ensuring you do not overpay for care.
For more information, please contact one of our friendly solicitors today.
Our friendly wills and estates lawyers have years of experience dealing in wills, probate, care home fees and other related services. Whatever your age and circumstances, we can help you review your plans for later life.
Our Senior Partner and Head of Wills and Estates, Tom Morrish, is an accredited member of Solicitors For The Elderly, a national association of independent lawyers who specialise in legal services for older and vulnerable people, so you can be sure you are in the best of hands.
We understand that your circumstances are unique, and that’s why we’re careful to listen to your situation and provide the best possible solution to support your family’s wellbeing.
As a Yorkshire-based firm, you can benefit from our competitive rates. We believe in representing people, not large organisations, which is why we aim to provide expert advice, personable service, and excellent value for money.
All our services can be provided at your convenience either in-person, over the phone or by email or post. So, it doesn’t matter where you live, we’ll always be here to support you.
Want more information? Speak to our Wills and Estates team today.
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