The decision to place an elderly parent into a care home or assisted living situation is never easy. Anxieties are bound to arise for both your parent and you, along with a level of stress you might not have expected.
Usually when you initially speak to us, we find that a lot of you will ask if you have to actually sell your elderly parents property.
The ability to pay for care will be worked out through a means test. The home will not be included if they receive care and support at home or if they go into a care home on a short-term or temporary basis. If they move into a care home permanently, the home will not be included if, for example, a partner still lives there or, in certain circumstances, a relative.
Currently, or if there capital is above £23,250 you’re likely to have to pay your care fees in full. If your capital is under £23,250 you might get some help from the local council, but you may still need to contribute towards the fees.
In some situations, the home won't be taken into account in the means test. There are a few circumstances where this applies:
If you need short-term or temporary care in a care home, your home won't be in the means test.
If your care home is permanent, it won't be counted if it's still occupied by:
- your partner or former partner, unless they are estranged from you
- your estranged or divorced partner IF they are also a lone parent
- a relative who is aged 60 or over
- a relative who is disabled
- a child of yours aged under 18
If the property is going to be included in the permanent care home means test, the council must ignore it for the first 12 weeks of care. This is to give them space to decide what to do with the property and paying fees, for example whether to enter into a deferred payment agreement with the council. They will likely qualify for help with fees from the council for the 12 week period if the other capital assets are under £23,250.
For many families, making the decision to move a family member out of their current home or place of residence and into residential long-term care can be a difficult process, both emotionally and practically. The main concern for most families is the wellbeing of their family member. Due to the high costs of long-term care, most individuals and families also have significant financial concerns during this process. If your family member owns their home, one option is to leverage the equity in the home to help cover the cost of care. If your family member requires long-term care in a facility or community, it may be possible to sell their home and use the proceeds from the sale to cover some or all of the costs of long-term care.
Smiths Group Estate Agents have a specialist team who are able to help you with this. The team will be able to discuss and hold your hand through this process, and ultimately if the decision is made to sell the elderly parents home, we will help keep the sales cost down to only £500 no vat, no commission. We can also assist with, storage issues, the house clearance, garden up keep, cleaning services, and legal services, where you may need to discuss a "power of attorney"
Smiths Group have teamed up with various GP surgeries and their related services to help anyone facing this. We want to make the process as less stressful for you the family member and more so for your elderly parent. Knowing you have a local estate agent that specialises in this area means your one step closer to a resolution and having answers to the variety of questions you will have. If you need to get in touch please email - email@example.com or call 01205 337016.