Buying a policy to pay care fees – what do you need to know?
If you want to buy a care fees plan, make sure you know what you’re getting.
A couple of weeks ago I was at a conference held by Symponia (a founder sponsor of SavvyWoman and a member of the expert panel) and one of the subjects being discussed was the difference between policies on offer if you want to pay for care home fees. If you have an elderly parent who needs care and who doesn’t qualify for state support, you may need to sell their home or cash in savings. And one of the options is to use that money to buy a care fees plan. So here's what was discussed about what you should look for.
Some scams are easy to spot, but others are harder to avoid. Here are some common scams.
You’ve probably heard of lottery scams, where people are told they’ve won a prize, and advance fee fraud scams that promise you a percentage of a large sum in exchange for giving your bank details. And you might wonder who falls for them. Well, almost half of us have been targeted by a scam, and many people who fall for them don’t report them. Here are some scams that it’s worth being aware of.
Looking after the finances of an elderly relative as a deputy; what does the Court of Protection do?
You’ll have to apply to the Court of Protection if you want to look after a relative's finances and they don't already have an agreement in place.
This week the government said it would look at making the Court of Protection more transparent following concerns that it wasn’t being open enough. The Court of Protection is a special court which was set up to make decisions about people who –are unable to make decisions about themselves, perhaps because they have dementia or learning difficulties. In A large proportion of its work is related to deciding who should look after the finances of people who don’t have the mental capacity to do so.