The two-year delay in bringing in the much-awaited £86,000 cap on care costs has left people concerned about their later life planning.
In the November Autumn Statement, Chancellor Jeremy Hunt, announced that the proposed cap of £86,000 on the amount an individual could be charged for their social care, would be postponed for two years, with some commentators expressing fears that the care costs cap may be abandoned altogether.
Here, Rachel Blackburn, Head of Mander Hadley’s Wills, Probate and Older Client Services department, explains the current situation and how the new proposals may not necessarily be the solution to preserving a family’s assets:
The current care costs tariff:
What about top up fees?
Many relatives are concerned what will happen when the money from the sale of their elderly family member’s property runs out.
If there is a shortfall between the cost of the care home’s fees and the amount a local authority is willing to pay, then relatives will be asked to meet the shortfall. The alternative could see an elderly relative being moved by the local authority to a less expensive residential home.
Would the care fee cap have solved all these problems?
Even when/if the cap is bought in, it is not necessarily the good news that many people expect. The proposed limit on care costs is meant to be a lifetime cap.
However, some have pointed out that the current proposed legislation plans to exclude certain costs with family members again being expected to pay top up fees.
If you are concerned about a relative’s care costs and want to find out more, please get in touch with our Older Client legal team for help and advice.
Mander Hadley Solicitors is not only a long established firm, but is vibrant and successful, with a forward thinking approach.
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