Social Care Plans | Vital Forums

Social Care Plans

The Fear

A Wise Man (once sat next to him)
#1
http://www.bbc.co.uk/news/uk-politics-21403679

The government is due to announce its "fully-funded" plan to cap at £75,000 the amount elderly people in England have to pay for social care.

There will also be a rise from £23,250 to £123,000 in the amount of assets people have before having to contribute to the costs of basic nursing care.

Health secretary Jeremy Hunt said the "scandal" of many people selling homes to pay care bills must be tackled.

Labour said the country needed "a far bigger and bolder response".

At present, up to 40,000 people every year are forced into selling their homes because they face unlimited care bills, says Mr Hunt - who will set out the plan in a statement to the Commons.
Lets hope the reports are right. About time people who work hard and save all their lives don't get robbed at the end of their lives.

LABOUR? They had HOW long and did fuck all and now criticise this? Politicians are such hypocrites!
 

Wurzel

Alert Team
#2
As far as i understand it that cap does not include food or lodging, so basically it is completely useless and will benefit only the very rich. A waste of space. What is the point of paying into national insurance, oh thats right they nick that for general taxation instead of using it for what it is intended.
 

The Fear

A Wise Man (once sat next to him)
#3
will see what the details are, don't think that can be right can it? If so, it is all hot air... Nah... hot air from politicians? Don't believe that!
 

Wurzel

Alert Team
#4
I suppose the best thing to do is plan ahead, either only ever rent a house and then the state picks up the slate, or be prepared to lose your house to the state if you buy a house. If each generation stands on their own to feet it should not be a problem.
 
#5
If it's any help, put as much money as possible into Capital Investment Bonds. Technically there are Life Assurance Policies, and as such exempt from the Local Authority calculation.

You need to have set them up in good time, not 2 weeks before you go into a home, but it's 99% certain to protect peoples hard earned savings.

Can't do anything about the house, which will exceed the £123,000 in most cases. They can't touch it if there is a surviving partner, but it will have to be sold to fund care if it's someone on there own.
 

The Fear

A Wise Man (once sat next to him)
#6
Yup. They are saying that laying this out now, they hope insurance companies will set up policies to help.

Hmmmm.

Bad situation for those who have helped their parents and were looking at inheritance to 'repay'. You used to be able to buy your parents house for any sum but they closed that loophole, now it has to be market value as does the rent you then have to charge your parents (unless I'm misinformed, it was a conversation with an accountant though)

There is another way, some sort of property trust where your mom owns 50% and your dad the other. Not totally sure how it works.
 

Clubpaver

Vital 1st Team Regular
#7
I think it`s called split tenancy,whereby you will half of the house to the kids on your death,so the authorities can only claim 50% of the value towards the care bill.
 

The Fear

A Wise Man (once sat next to him)
#8
One I had explained to me was slightly different. They can only ever sell the house if 100% owned and if it is split to two trusts, one in each of the parents names and then willed, there will only ever be 50% and they can't then call on that asset as the person who is willed the other 50% would just say no to the sale.
 

kefkat

Vital Football Legend
#9
Interesting! We are just finally looking to taking the right to buy on our home along with my 2 eldest sons, on the mortgage.

Providing we don't need care in the future that would leave mine and Mr K percentage of 50% to be split between my 4 youngsters with obviously my 2 eldest keeping there own 25% each on top of their inheritance.

All this sounds like more work for the conveyancing solicitor who will make more money. Always the richer than win long term
 

Cheshire Villan

Vital 1st Team Regular
#10
This is what my wifes parents should have done. Her Father died in his 60's. So the house passed over to her Mom. She has been in care for 6 years - dementia, no mobility and a list of ailments that would sink a normal person. Had to sell the house to pay for the care and it's just about gone now. My will is set-up for a 50/50 split.
 
#11
We have done something with my mums house when my Dad died that means if my mum needs care they can't take the house. No idea what it is, solicitor sent the paperwork for me to sign and i couldn't understand a word of it. I've probably signed my current house away for all I know! LOL.
 

The Fear

A Wise Man (once sat next to him)
#12
Wurzel - 11/2/2013 13:43

As far as i understand it that cap does not include food or lodging, so basically it is completely useless and will benefit only the very rich. A waste of space. What is the point of paying into national insurance, oh thats right they nick that for general taxation instead of using it for what it is intended.
You sir, were spot on. How can it not include food and accommodation? Laughable.

Labour also laughable, they did sod all and now say this is meek.

It is a start. Limited to £75k and also anyone with assets under £123k are affected.

Still hits those who have saved and been cautious in life and stops parents doing what they want to for their offspring, leave some of what they have earnt (and paid tax on) all their years.
 
#13
it's laughable J. Best thing to do is cash in on the house, let the social find you a place, and piss any profits up the wall. Let the state pick up the tab.
 

The Fear

A Wise Man (once sat next to him)
#14
Does make you feel like that doesn't it?

Shame, those who try to do the right thing in society seem to get battered to provide for those who won't (NOT those who can't) work and contribute.
 

The Fear

A Wise Man (once sat next to him)
#16
We should all move there, the entire country of England, pick a day and just all go up there.

Maybe some equality could then return. Don't forget to take your prescription forms when we go!