The Eric Whitehead Partnership

Meeting expensive care home fees is a subject which is increasingly causing anxiety and concern for many people wanting to protect their assets, including their homes, and to safeguard the interests of their partners and children.

The general rule is that if a person who needs to move into a care home has savings and capital exceeding £21,500, then they will be required to meet the full amount of the nursing home fees and will not be eligible for financial assistance.

Savings and capital include:-

• Building Society savings accounts
• Premium Bonds
• Stocks and Shares
• National Savings Certificates
• The value of a person’s interest in their home

There are, however, circumstances in which the value of a person’s share in their property will be disregarded for calculation purposes, including:-

• If the person’s spouse/civil partner/co-habitee still lives in the home
• If a relative aged 60 or over lives in the home
• If an incapacitated relative under 60 lives in the home
• If the person’s estranged/divorced partner still lives in the home and they are a lone parent with a dependant child

Even if a person is considered to be eligible for financial assistance, any weekly income they receive over and above £20.45 may be required to be spent on care home fees.

If a person plans ahead, there are various steps which they can take in order to potentially reduce their liability to pay these expensive care home fees. Obviously, the sooner expert legal advice is sought the better.