Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to Rhyd6,eyeball08,Wondergirly,bofh,johnstevens77, for Donating to support the site

Separate bank accounts to split assets for nursing home fees reasons

including wills and probate
didds
Lemon Half
Posts: 5300
Joined: November 4th, 2016, 12:04 pm
Has thanked: 3294 times
Been thanked: 1032 times

Re: Separate bank accounts to split assets for nursing home fees reasons

#144568

Postby didds » June 8th, 2018, 5:15 pm

right...

so Mrs & Mrs A have 100K, so that is viewed at 50K each.

So Mrs A's (into care home) gets used leaving Mr A with his 50K.

BUt

at some time later (if he does nothing wtyh it)

That 50K is now seen as 25K each - so 25K is taken for Mrs A leaving Mr A with 25K of his original 50K.

At which time they'll no longer take any more as that's 12.5K each which is below the threshold.

Summary: despite the initial share being 50K each it actually keeps getting whittled away at.

?????????

didds

melonfool
Lemon Quarter
Posts: 2939
Joined: November 4th, 2016, 11:18 am
Has thanked: 1365 times
Been thanked: 793 times

Re: Separate bank accounts to split assets for nursing home fees reasons

#144569

Postby melonfool » June 8th, 2018, 5:25 pm

God - that's really annoying, isn't it?

Mel


Return to “Legal Issues (Practical)”

Who is online

Users browsing this forum: No registered users and 11 guests