Asset protection trusts re care home fees - what do we think?

[Rusty Nails]

I don't know if the system in Wales is different to that in England or Scotland but am surprised that some people say there is no difference in quality of care between the LA and more expensive private care homes. I have had a lot of experience of visiting elderly relatives in care homes, and did work in a few of them before I retired, and I found a huge difference in quality depending on how much you were prepared to pay. I even fell out with a cousin because he put his father, who had dementia, in the cheapest care home in the area. It was a smelly sh*thole and what made it worse was that his father's estate was worth close on a million and inheritance tax free. As it happens, luckily he only had to live there for five months before he died and my scumbag cousin didn't lose much out of "his" inheritance.

I have no problem with all my assets being used to ensure that, should the worst happen I, and particularly my wife, have enough to fund many years in a comfortable care home not a slum.

My kids know this, have been helped with buying their homes, have good jobs and no real concerns over money and know that they have to take their chances on how much, if any, is left.

I would obviously prefer to leave them as much as I can but they know and agree that I have not worked all my life to ensure that they will be OK financially when I go.

 

[Bonefish Blues]

What's worse is that local authorities typically don't pay the 'rack rate' (simply, they refuse and name their rate) and so in practice the private residents will be subsidising the LA residents.

 

[Emanresu]

If you look again at life expectancies between care home and non-care home, could it be said that putting family member in a care home is, on balance, reducing their life expectancy. And the moral question (since we can't do politics), should the information be made available so the person can make their own judgement about the possible outcomes?

The LA will look at the possibility of deprivation of capital before agreeing to pay.

https://www.ageuk.org.uk/informatio...paying-for-a-care-home/deprivation-of-assets/

 

[Kingfisher101]

My wife has been through this, it's an awful process. We're making damn sure we've got enough cash to make our own choices when that day comes, and protect our daughter from it as much as possible.

It's not always about the cash its about where they have vacancies as well. There a massive recruitment and retention problem in this sector and a lot of homes have had to shut or downsize because they just can't get the staff.

 

[Bonefish Blues]

It's not always about the cash its about where they have vacancies as well. There a massive recruitment and retention problem in this sector and a lot of homes have had to shut or downsize because they just can't get the staff.

I know. I used to work in sector.

 

[Rusty Nails]

If you look again at life expectancies between care home and non-care home, could it be said that putting family member in a care home is, on balance, reducing their life expectancy.

I am not convinced by these statistics given that, and I know it is a generalisation, those who go into care homes have more medical problems and are frailer than those who don't. It is not comparing like with like.