What does 12 week property disregard mean?
This is called a 12-week property disregard. The 12-week property disregard is designed to give you breathing space to prepare the property for sale or decide whether you want to sell. The council will pay your care home fees for these 12 weeks, or until your property sells, if sooner.
What is a disregard period?
Disregarded property There is a 12-week disregard from the day you first become a permanent care home resident, giving you time to make a decision about how to use your property to pay care fees. In other circumstances, the local authority has a discretion to disregard property.
Is the first 12 weeks in a care home free?
The council may ignore the value of your property for the first 12 weeks after you move into a care home. After 12 weeks the value of your property will be counted as part of your capital and you will most likely be required to pay the full cost of your care.
How can I avoid paying care home fees UK?
The most popular way to avoid selling your house to pay for your care is to use equity release. If you own your own house, you can look at Equity Release. This allows you to take money out of your house and use that to fund your care.
Do I have to sell my mums house to pay for her care?
There is no government or aged care home requirement that a person entering care must sell the home. Sometimes selling the home is the best financial option, and sometimes it is not. It is always important to compare different strategy and options.
Can I lose my home if my husband goes into a nursing home UK?
A: As long as you are living in the marital home no-one will make you sell it and the property value will not be taken into account in determining how much, if anything, your husband must contribute to his care costs. Once assets fall below those figures the Local Authority will contribute towards care home fees.
How can I protect my elderly parents assets?
10 tips to protect your aging parents’ assets
- Talk to your loved one often and as soon as possible about their wishes for the future and your desire to help.
- Block scammers from calling.
- Sign your parents up for free credit reports.
- Help set up automatic payments.
Can I sell my mom’s house if she is in a nursing home?
Yes, you can rent or sell the home. As a co-owner, your mother will receive her proportional share of either the net rental income or the proceeds of the sale. In terms of income, her share will have to be paid to the nursing home along with your mother’s income.