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Domiciliary Care Peterborough

Advice needs to be taken early to protect assests and you may need to know this BEFORE an assessment is made. We work closely with local solicitors and the following article was featured recently in the Peterborough Evening Telegraph :

"Domiciliary Care is care that can be provided in your own home by one or more care workers or nurses. They provide the care and assistance to enable you to continue with your daily life, helping you to maintain your personal independence, comfort and contact with friends and family. The care could just be for a few hours or could be 24-hour care and can be on a temporary, intermittent or long term basis.

The care is generally arranged through local Councils and a financial assessment will take place. For those with assessable assets such as cash on deposit or investments it can often mean that those people have to then pay the full cost of care at home. However, just as in the assessment of Nursing Home fees many people are not aware that with the right forward planning and professional advice they need not be paying as much or in some cases for any of the domiciliary care provided by the local authority.

Current rules provide for extremely limited situations where care and accommodation might be free, but assessable assets will almost always include the value of a property and cash. So, for those wanting to protect their assets from care home fees, some forward thinking is required:

There are ways to protect assets legally, such as a couple signing carefully drafted wills to protect their property. The local authority’s rules are clear – gifts of any amount made at any time can be taken into account, if the reason for the gift was to avoid care home fees. When it comes to cash assets, investment bonds are currently ignored in the financial assessment process for domiciliary care and care home fees.

The regulations say that the value of life policies must be ignored, and the underlying structure of an investment bond is that of a life assurance policy and so they are ignored. For those who have not invested in investment bonds, expert independent financial advice should be sought now, before the Government decides that they will change the law on this point, which they have been threatening.

Even careful planning can be attacked by the local authority. It is a case of aggressive tactics by the council, who seem to be applying unfair rules unfairly. A good estate/probate solicitor has the expertise to help people plan in advance to protect their assets from care home fees and to challenge incorrect financial assessments carried out by the local authority.

For those who do not have time on their side, and so planning in advance is not an option, planning in advance of needing care is always the best option, but action can still be taken on behalf of those who are needing domiciliary care, or are about to go in a care home.

The sale proceeds of a property can be invested to provide an income, or used to purchase an Immediate Care Fees plan. This is an insurance policy to cover the difference between the care home resident’s income and the care home fees and advice on this can be sought from a reputable Independent Financial Adviser."

Orchid Financial Services Ltd are pleased to be able to offer Independent Advice in this area 0844 4140730

Orchid Financial Services Ltd is an appointed representative of L J Financial Planning Ltd which is authorised and regulated by the Financial Services Authority.

Company number 5509898, Incorporated In England & Wales, Registered Office - Thorney Lakes English Drove Peterborough PE6 0TJ

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