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Do You Care For Someone?

Care Fees, Making a Will, Powers of Attorney, Trusts, Wills, Wills and Power of Attorney Checking Service

Caring for someone can be a rewarding experience, but it can also put a strain on you and your time.

We know you want what is best for your loved one and it is an emotional time when having conversations about care and care homes. You might be worried about the financial implications of placing them into care, what will happen to their possessions or their house? And you may be wondering if it will affect your finances? Our advice is to always speak to a professional. Our specialists can help you understand the facts around care fees and eliminate any myths. All advice will be bespoke to you. Call today on 01623 448 318  to book an appointment.

Care Fees made simple

On top of the emotional stress of deciding to place your loved one in care, care Fees are expensive. In England the average cost of a care was £31,000 per year. Whilst we can’t help to pay your Care Fees, we can explain how much they’ll have to pay, and what assets might be exempt from the financial assessments.

If you decide your loved one requires care, they will be financially means tested by the Local Authority. The Local Authority will not look into your finances (the current carer), therefore you should not expect to pay for any care  yourself (as a carer) unless you’re willing to. The Local Authority will ask for access to their bank accounts, savings, stocks and pensions in order to work out how much money the person you care for has. If your loved one owns their own home, this will also be taken into account for the means test, although there are some exceptions.

Once the means assessment has been completed, they will fall into one of three categories;

Upper Threshold: If your assets) are more than £23,250 the Local Authority will charge you for the full cost of your care. This can be reassessed if assets fall below the threshold in the future.

Middle threshold: If you have between £14,250 and £23,250 then some contribution from yourself will be required, the amount the Local Authority agree to fund is dependent on your care needs, income and assets. It is usually £1 per week for every £250 over the lower threshold, known as the tariff income.

Lower threshold: If the value of your assets are less  than £14,250 you should qualify for maximum funding from the Local Authority. This varies per Authority as it is based on the cost of care in their area.

However, regardless of which threshold they fall into, they are expected to contribute via their income towards care, this will be subtracted from the amount the Local Authority agree to pay.

But if your loved one is judged to require “Continuing Care” due to a Primary Heath need;  which might be due to conditions such as dementia, Alzheimer’s, diabetes, epilepsy,  or suffering a stroke , then their care will be paid for by either the Local Authority or the NHS depending on the situation.

Taking the next step – speak to one of our specialists

Making the decision to place a loved one into care will never be easy, it may even cause tension in your family. Knowing the facts may help you and your family decide what is best for your loved one. If you’d like to discuss your situation and get advice on Care Fees pop in and speak to one of our specialists, call us on 01623 448 318 or visit www.fidler.co.uk

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