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How much of the care home fees you will have to pay is dependent on your own finances. Your Local Authority will conduct a “care needs assessment” and if it is concluded you require care in a residential care home a further means tested assessment is carried out.
The Local Authority means test is focused on the assets that you have, such as the value of your home, your pensions, and your savings and how they will affect your fees. Some types of assets such as certain benefits are not included in the test.
You will be required to cover your own fees if your assets are greater than the upper capital limit.
We offer a free first meeting to understand the details of your case and discuss potential routes forward. Before progressing with your case we will always provide a transparent view of costs. In many cases, we’re able to offer a fixed price upfront for our services.
How much will I have to pay?
The upper capital limit in the UK is £23,250.
If you have a capital value above this amount, you are self-funding.
If you have a capital value between £14,250 and £23,250 you must contribute toward the cost of your care under the “tariff rules” (£1 per week to the cost of your care for every £250 of capital between £14,250 and £23,250).
If you have a capital value of less than £14,250, the Local Authority will pay your care home costs up to their approved rate, providing that the care home is adequate to meet your needs and is within their budget.
You may also qualify for NHS Funded Nursing Care depending on your health needs.
Will I be forced to sell my home?
It is important to know that your Local Authority cannot force you to sell your home or take the value of your home into consideration for capital if:
- Your partner/spouse lives there.
- A minor lives there.
- A relative over 60 lives there
- Someone who is incapacitated lives there.
- Someone else owns a proportion of the property.
If none of the above apply, you can request your Local Authority to set up a Deferred Payment Agreement.
How can we help?
When planning for care home fees it is important that you consider your estate as a whole, such as:
- How you own your home.
- The structure of any other assets.
- The structure of your Will to protect your loved ones
- Any benefits you may be entitled to claim.
- Other methods of funding.
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Head of Private Client
Direct Dial 01924 387 171