Skip to content

Finding money for care home fees

October 21, 2008

Dear Observer Editor,

I am hearing daily about the problems that the Credit Crunch is causing our older residents.

In particular, I wanted to make the point, via the Letters Page, that the disintegration of the housing market makes this entirely the wrong time for older people to sell their homes to pay care home fees, and they do not have to do so.

People should know that the local authority can wait to obtain owed fees, as a charge can be placed on the care-receiver’s estate.

The technical term for this is a deferred payments agreement.

People can also set up trusts, or gift their assets to their relatives.

There are particular rules around trusts and gifts, so people should get professional advice on this.

Yours sincerely,

Advertisements

From → Uncategorized

Leave a Comment

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: