On 7 December 2017, the government announced that they had scrapped their plans to place a cap on what an individual would be required to spend on their own social care costs. The cap had originally been planned to be set at £72,000 for those over 65, and was due to come into effect in 2020. A green paper setting out the government’s proposals for social care reform will be published by this summer.
This highlights that care home costs can exhaust the majority of a person’s wealth if they require long term residential care. It is possible that the person can make gifts which reduce the value of their wealth which can be used for such costs, but that the local authorities may consider whether they can prove that such gifts represented deliberate deprivation of capital and if so to reclaim them.
At Jordans, our Wills and Probate team advise varied clients, all looking to protect their finances, property, and other valuable goods. We recognise how important it is that this is done correctly, to provide peace of mind to everyone involved.
If you are concerned that care home fees have been unfairly charged, we can consider whether these fees can be challenged. We can also advise you on steps which you can take in order to protect assets against the possible costs of future long term residential care.