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.
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.
Personal independence payment (PIP) is being phased in to replace disability living allowance (DLA) from today
Personal independence payment will begin to replace DLA – unless you’re under 16 or over 64
A major part of the government’s reform of the welfare state starts its roll-out today with the introduction of PIP – the personal independence payment. It’s designed to replace DLA or disability living allowance, for people aged 16 to 64. Some disability charities, including Scope and Disability Rights, say that around half a million people won’t get any money, when they would have under DLA. What are the main changes?
The material provided on this website is general information that is intended for general guidance and is not suitable for professional advice. You should always obtain independent financial advice.
