Care Fees: Losing Your Home
This will depend on your personal and financial circumstances and the assessment made by your local authority. If you own a property then the value of it could be taken into account when you need care.
The local authority will not normally take your home into account to pay for care fees if your partner or an elderly or seriously disabled relative of yours still lives there.
If you receive short term care or care from time to time, your house will normally be disregarded. However, if your stay in care is long term or permanent, your home may be included.
If you have a low income but high assets, the authority may agree a deferred payment option.
They will technically place a charge over your home and wait for you to die:
Care Fees: What happens when I die?
By registering a Legal Charge on your home, the local authority has the security of being able to get back any charges you should have paid (but could not afford to do so out of your income) when your property is eventually sold now or upon your death.
The value of your home will be reviewed every 18 months and whilst it remains unsold, any property related charges due to the local authority will be deducted from the estimated value.
If you do not want the local authority to take your home you need to plan for care fees now.
Request our expert advice and about care fees about protecting your wealth and planning for care.