Care home fees
Many elderly people are worried about affording care home fees, and the effect these costs will have on the inheritance they leave behind. Burton & Dyson can advise on these issues as part of our complete service for elderly clients.
If you need to move into a care home, the fees will initially be met out of your savings. Once these have dropped below £23,000, Social Services will pay some or, in certain circumstances, all of the costs. However, if you own a property in addition to savings, their outlay may need to be repaid when your property is sold (even after death).
Nevertheless, half the value of a home you share with a spouse can be protected if the other partner’s share is placed in trust upon the death of the first partner. They can then continue to live in the property and will receive an income from the Trust. While this income can be used for care home fees, the money within the Trust is protected.
For more information on any of these services, please contact us.
