Case Study:
Moving to a residential care home

John and Mary

John and Mary are the parents of a FiveWays client. They are in their nineties; Mary has severe Alzheimers and both of them have moved to a residential care home. When our adviser Ian Evans met them, they were in process of selling their house and were being pressurised by the local authority into entering the ‘universal deferred payment scheme’ which would have involved interest accruing until their home was eventually sold. Ian ensured the house was rapidly sold which avoided the need for this, and secured payment of their fees for 12 weeks under the ’12-week disregard’ rule. He also ensured they applied for and received the attendance allowance benefit they were entitled to.

John and Mary were too old to benefit from a care annuity, so our advice was to invest £250,000 in a cautiously invested portfolio of investments. About £2,000 per month will be drawn from the portfolio to supplement their pension income and benefits to meet their £4,000 per month joint care home fee bills.

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