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Advice Re Paying For Care Homes

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Jaidyn | 20:43 Mon 09th Sep 2024 | Business & Finance
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My partner has Alzheimer's disease - he is 73 and I expect he will need full time residential care by the time he is 75

I have therefore looking at his savings and income including pensions and looking at potential care costs 

At a rough guess he will have enough savings to pay for his care for 6 years max

We are tenants in common in our home and have no mortgage - his share of the house if sold would pay for another 8 years of care 

Once his savings are used up does the local council pay the difference and then take a charge out on how much we owe once we sell our house should he die whilst in care or do I have to sell our house once his savings run out to release capital to pay the care costs and look for a smaller home for myself ? 

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Quote:
"Your share in the value of your former home can be disregarded, for example, if your partner still lives there or, in certain circumstances, a relative."

Source:
https://www.ageuk.org.uk/globalassets/age-uk/documents/factsheets/fs10_paying_for_permanent_residential_care_fcs.pdf

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