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Could you lose your house or inheritance to care home fees?

Could you lose your house or inheritance to care home fees?

Published at 4:00pm 6th February 2019. (Updated at 4:13pm 6th February 2019)

Newton's Solicitors Promoted by
Newton's Solicitors

The question 'how will care home fees be paid in the future?' is a commonly asked one. Now local solicitors are advising people to protect themselves and their families. 

  • The average cost of care in England is £611 per week (according to Age UK).
  • In the Stray FM area this can sometimes exceed £1000 per week. 
  • For nursing care this can result in costs of over £45,000 per year.

So it's understandable why people worry about paying for it. 

Where will the money come from?

How will it affect my spouses security, my children's inheritance or my property?

Grandparents with grandchildren
How will the future of care home fees affect your family?

 

Will I need to pay for care home fees?

As Newtons Solicitor Bill Neville explains, when an individual goes in to care, a financial assessment will be carried out by the local authority. 

This assessment will take assets, money in the bank, income and property into account

If, however, a property still has a spouse living in it this will be disregarded from the assessment. 

Anyone with an estate in excess of £23,250 will be expected to pay in full for care home fees. 

For estates worth £14,250 - £23,250, partial contribution will be required. 

For those with estates less than £14,250, there will be no requirement to pay for care. This will be funded by the local council. 

Elderly man and woman walking down footpath with blue skies
Local solicitors could help future-proof your inheritance and assets as much as possible.

Could a solicitor help you future-proof care home fee issues?

Local company, Newtons Solicitors, have been encouraging people to take a look at their plans for the future. 

Amendments made to property agreements, wills and inheritance could be hugely advantageous to you and your family in the future if somebody requires extra care. 

Get in touch with Newtons Solicitors for information, guidance and support with wills, inheritance and property.

Pete Egerton from Stray FM's Family Show talked to Bill Neville from Newtons Solicitors about care home fees and how you can protect your inheritance and property:

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