If there was a partner remaining living in the property then a mandatory property disregard would apply and the value of the property wouldn’t be included in the financial assessment.

The Money Advice Service has useful information about the different options for self-funders: https://www. at which point the local authority would be likely to start contributing, along with continued contributions from her. However, if you both require care, or if one of you dies, then the home will eventually need to be sold to pay for your care, unless your son is disabled, or at the discretion of the Local Authority. Fed holds fire again on US interest rates ahead of Bank of England decision – but is the hiking cycle over? This Support for divorce intervention is to help support a child who has experienced their parents divorcing.In most cases the capital will be preserved but any might have to be paid to go towards the care fees. The DPA should be set up in the 12-week initial property disregard period if she’s eligible for this. It sounds as though your mum was receiving Continuing Health Care (CHC) funding and this has now been removed. I assume my parents would leave their estate to one another in the Will, then last to die passes the flat to my sister and any residual cash split between the other siblings.

Without an equity release qualification, a mortgage adviser can point the borrower in the direction of lifetime mortgage products - but can't advise on them.Think about your own financial future, your retirement income, and the potential cost of care later in life. Her mental state is unpredictable especially now she can't drive, which is a nightmare as she is isolated. Fred and Hilda could have become ‘tenants in common’ so that they own half their house each instead of owning it jointly.

If a person decides to sell their property, they should notify the local authority during the sale process.This means that taking a large amount in one year can bump you up into a higher income tax bracket - so before you do this, make sure you've taken tax advice from an independent adviser. Whether she can continue to live in the property will be a matter for your parents, or their attorney under an LPA. Usually though, you need to have been living in the property at the point where your mother went into care. Even if one of the children got divorced or died, the assets are protected because they don’t belong to the children. The savings she has will run out in over a years time, at which point her property would have been sold to pay for her continued care.