Case Study / Care Fees
"I didn't know where to begin. Dad had died suddenly in the summer from a heart attack and Mum had just been diagnosed with dementia and needed to go into care. I had to make important decisions and felt completely out of my depth with the responsibility and emotional stress of the whole situation."
Jane was introduced to us by her solicitor. She was looking for an experienced care fees specialist to advise her on how to fund her mother's care fees.
Jane's father George had died in the summer and her mother Betty had fallen and broken her hip. Betty is 85 and whilst she was in hospital having a hip replacement the family realised that she was suffering from mild dementia. Jane had decided that Betty could no longer manage to live independently at home and she was in the process of choosing a care home.
Jane had a Lasting Power of attorney for Betty but was finding the responsibility of making decisions for her mother extremely stressful. Furthermore she was still grieving from the loss of her father and concerned with the ongoing work relating to probate on his estate.
Jane wanted the best possible care for her mother but realised that this was going to be expensive. She wanted Betty to live close by so that she could visit her on a daily basis. She needed guidance in choosing a care home and advice on the options that were available for paying for her care.
Her first concern was choosing a care home as the hospital were keen to discharge Betty as soon as possible. We were able to advise her on the things to look for when visiting and choosing a home that Betty would be happy in.
With regard to the financial concerns we reviewed Betty's income and capital assets and explained the different options available to fund care fees.
Betty had her state pension and a teacher's pension. Sadly George's pension had not provided a widow's benefit. She also had some savings and investments which could be used for care fees together with the proceeds from the sale of the house once completed.
We discussed in detail the advantages and disadvantages of each option so that Jane had all the information she needed prior to making a decision about the way forward. We also made her aware of all the state benefits that she should claim on Betty's behalf and the role of the local authority.
We were able to show Jane that by combining a number of options, using the investments and an immediate care annuity she could fund Betty's care fees for the rest of her life and also protect part of the estate as an inheritance in the future.
With careful planning care fees need not be a problem … talk to a Care fees specialist, a SOLLA adviser.