Affinity Financial Awareness -
Care Division
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Protecting Your Property
When your property may be disregarded
There are certain
circumstances when your property may be disregarded during your financial
assessment. To confirm whether you should qualify for this disregard, you
can contact Affinity Financial awareness for individual advice on your
situation. Property may be disregarded in the following circumstances:
·
If
your stay in residential or nursing care is temporary, you intend to return
to your property, and the property is still available to you.
·
If
your spouse/Civil Partner still resides there.
·
If
a relative over the age of 60 lives there.
·
If
a child under the age of 16 still lives there.
·
If
a disabled (incapacitated) relative lives there.
·
If
your home is now the sole residence of your carer and they gave up their
home to live and care for you. However if the carer moves out your property
it may no longer be disregarded.
Where your
admission to a care or nursing home is regarded as permanent, your former
dwelling may be disregarded for a period of 12 weeks if your home is your
only asset, other than savings of up to £23,250 in England and Northern
Ireland.
Jointly Owned Property
If your property is jointly owned by another person,
who will not allow the property to be disregarded as previously mentioned,
your Local Authority will take the value of your share of the property into
account when assessing your assets
When
considering care there are many financial and legal implications, which,
for your own protection you should obtain specialist advice on. These
include what state benefits you are entitled to, how best to utilise the
protection afforded by Wills, Powers of Attorney and other legal
Instruments, and how you may best protect and use your income and capital
to provide for your ongoing care costs.
Affinity Financial Awareness has developed a specialist service based on
our in-depth understanding of Care legislation. The solutions we provide
are specifically designed to provide you with peace of mind, knowing that
your care fees are secure for life, and that your estate will be preserved
to be passed on to those you want to benefit, rather than be radically
depleted by the cost of care fees and Inheritance Tax
If your
property falls within the Local Authority assessment you will need detailed
financial advice. Please complete our Specialist
Advice form to receive personal help.
