Could the unthinkable happen?

[Penmoel]

Am iI wrong? I thought at the moment you are responsible for your care costs if you have over £22K of assetts.
Surely this figure means you are in fact only responsible after the first £100K of assetts

@Red Fred has alluded to the difference, under the "new" scheme the value of property is taken into account in the £100k, the £22k is cash and savings.

If you give your money away for the kids to waste there in no incentive for them to look after you in old age. You will find yourself in a council old folks home while the kids are holidaying in Barbados. I'm keeping my money so I can look after myself.

The problem is you probably wont be able to look after yourself when the inevitable happens, double incontinence, no memory, unable to do or want to do, basics such as washing dressing and feeding yourself. What is wrong with the council old folks home?? You will only get the same care as the guy paying as at present.

Why do you want to burden yourself upon your kids and ruin their life as well, your life in reality will be over and just an existence.

This can be a good idea but be wary of family arguments/breakdown or divorce settlements

I am afraid its down to trust really, how much do you trust your kids?? sh!t may happen, or not?? If you get to the state I mention above what concern is it to you ? You will be in your own little world.

Alternatively do what my father did via his will, put cash into a discretionary trust That way you control it from the grave since you obviously don't trust your kids

The best quote I read recently was that " trusts are for people who don't TRUST their children"
Too bloody true

 

[itsalwaysme]

@Red Fred has alluded to the difference, under the "new" scheme the value of property is taken into account in the £100k, the £22k is cash and savings.



The problem is you probably wont be able to look after yourself when the inevitable happens, double incontinence, no memory, unable to do or want to do, basics such as washing dressing and feeding yourself. What is wrong with the council old folks home?? You will only get the same care as the guy paying as at present.

Why do you want to burden yourself upon your kids and ruin their life as well, your life in reality will be over and just an existence.



I am afraid its down to trust really, how much do you trust your kids?? sh!t may happen, or not?? If you get to the state I mention above what concern is it to you ? You will be in your own little world.

Alternatively do what my father did via his will, put cash into a discretionary trust That way you control it from the grave since you obviously don't trust your kids

The best quote I read recently was that " trusts are for people who don't TRUST their children"
Too bloody true

It's not always a case of trusting your "own" kids though if it all becomes part of a messy divorce (just something we were warned about when looking into similar)

 

[Old Boar]

She said today "We will make sure there's an absolute limit on what people need to pay. And you will never have to go below £100,000 of your savings."
Now I dont count my house as my savings, as I cannot spend it. I dont think many people would. How many people do you know (apart from Cabinet Ministers) who may have £100,000 on the bank? Hmmmm!

I think I have been stupid, really really stupid. I worked all my life and paid tax etc. I helped my children through University so they now have good jobs and pay lots of tax. Maybe I should have rented, got the rent paid by the DSS, never worked a day, not paid tax, as now in my old age there would be no cost to me or my children for my care.

She has hit her core supporters in their wallets. BIG mistake!

 

[Grassman]

She said today "We will make sure there's an absolute limit on what people need to pay. And you will never have to go below £100,000 of your savings."
Now I dont count my house as my savings, as I cannot spend it. I dont think many people would. How many people do you know (apart from Cabinet Ministers) who may have £100,000 on the bank? Hmmmm!

I think I have been stupid, really really stupid. I worked all my life and paid tax etc. I helped my children through University so they now have good jobs and pay lots of tax. Maybe I should have rented, got the rent paid by the DSS, never worked a day, not paid tax, as now in my old age there would be no cost to me or my children for my care.

She has hit her core supporters in their wallets. BIG mistake!

That's just what I thought.
It was ridiculous to eventure bring this up now. We have enough problems to think about.
I really don't understand the thinking about all this. The whole point of the NHS was care for all. Doesn't matter if your rich or poor. A murderer or a queen. Same for everyone. But now the ones who have been sensible through life and saved and have bought a house etc are being TAXED to have that care but others get it free!
Big mistake!

 

[Nell]

@Nell would be the one to answer a lot of these, she's an admin for a mental health trust and before that did admin for an home care outfit. It's a toss-up between one of her managers and the council as to who has her reaching for the nurofen and chocolate most.

I'm somewhat limited in the information I can give you, other than saying getting proper advice whether it be from an accountant or solicitor, because of the tax/legal implications. I deal with local authority rather the service users themselves. Council provide package at x hours per week, I bill them accordingly, they bill the service user to recover some if not all of the cost.

 

[KMA]

It's a bit of a nightmare decision now, rock of Labour fiscal illiteracy or the hard place of Tory sociopathy

Beginning to think voting SNP and getting away from the clutches of Westminster's ugly sisters might not be so bad after all.

Just WTF were the Tories thinking

 

[linga]

It's a bit of a nightmare decision now, rock of Labour fiscal illiteracy or the hard place of Tory sociopathy

Beginning to think voting SNP and getting away from the clutches of Westminster's ugly sisters might not be so bad after all.

Just WTF were the Tories thinking

I think they were thinking there are only two ways to deal with the problem, on is for the individual concerned to pay for his/her care and the other it has to be paid out of taxation of one sort or the other.
Either way is expensive and they presumably tried to choose a a bit of both to keep everyone happy (or not)

The SNP may have a different idea to manage the problem but whatever it is someone has to pay for it sometime

 

[Nell]

I heard someone say the other day that the Tories don't want to win the election. I'm starting to wonder if they're right.

 

[KMA]

The simple and honest way would be to increase income tax, landing families with not one but TWO lump sum tax demands at the same time is just plain daft.

 

[pellow]

I heard someone say the other day that the Tories don't want to win the election. I'm starting to wonder if they're right.

That is exactly what I've been thinking, they start by saying they are going to have a vote on fox hunting, that didn't have much effect, now they are making a horlicks of this "dementia tax" as well as flip flopping

 

[RobFZS]

She said today "We will make sure there's an absolute limit on what people need to pay. And you will never have to go below £100,000 of your savings."
Now I dont count my house as my savings, as I cannot spend it. I dont think many people would. How many people do you know (apart from Cabinet Ministers) who may have £100,000 on the bank? Hmmmm!

I think I have been stupid, really really stupid. I worked all my life and paid tax etc. I helped my children through University so they now have good jobs and pay lots of tax. Maybe I should have rented, got the rent paid by the DSS, never worked a day, not paid tax, as now in my old age there would be no cost to me or my children for my care.

She has hit her core supporters in their wallets. BIG mistake!

Who else do they dare vote for?

This is the Blair strategy, sellout your core and appeal to left and right of centre, when it works, it works big, but who knows

 

[Muck Spreader]

Do you have long term care insurance thru private insurance policies or is it all state operated..?

Roger, what sort of cost and cover do these polices have. As far as I know there is no insurance for this in the UK. Here in France the government and your top-up insurance covers the nursing and care bit, but you pay a portion of any Nursing home fees, I think normally around half.

 

[itsalwaysme]

I think part of the problem is the care charges seem excessive we've just looked at a place in case mum has to be moved, it would be nursing care and the cost would be £1065/week Social care will pay about half that. When you think that mum and dad bought a house (mortgage) brought up 2 kids and I'm sure dad never earned more than a couple of hundred quid a week take home (he died nearly 20 years ago) and yet now in retirement and poor health you are expected to find that sort of money. A house that had taken many years of hard work to buy could be swallowed up by a few years in a nursing home.
I don't know how they arrive at the care costs but I feel it should be run as a "not for profit" business, it seems morally wrong to be "farming" old folk for profit

 

[holwellcourtfarm]

Do you have long term care insurance thru private insurance policies or is it all state operated..?

Traditionally there had been no market for it here as the NHS and local authorities have provided effective support. Now that support is being found wanting in the face of the huge demands of modern society. I suspect we will hear more about such products here over the coming months and years.

 

[Roger Perry]

A friend who was a vet fell into old age and with it came dementia, wife already gone, no kids. He was a prudent fellow,thrifty and had a good policy to take care of him, I went out to California to bring him back to his birthplace here in Colorado.
I cannot say how much his premium was but it afforded top notch care, first at an assisted living facility and as his condition deteriorated to an attractive facility offering round the clock nursing.

I was impressed with the level of care, five star hotel standard, lots of staff, resident doctor.

 

[Roger Perry]

Retirement homes / assisted living facilities are a huge, huge industry.

 

[holwellcourtfarm]

Retirement homes / assisted living facilities are a huge, huge industry.

They are here too but many are now closing add their funding is being restricted and their staff costs have risen due to the "national minimum wage".

The UK pays most carers at minimum wage and they are seen as menial jobs. It shouldn't be like that. Perhaps a private, insurance backed, system would provide better service?

 

[Roger Perry]

It is a "for profit" industry, the facilities are usually modern, well equipped.......therapy/swimming, socialising and transportation to doctor....eye care...dental etc, events around the area.

 

[Roger Perry]

Thing is, when you are the payer either thru insurance or out of pocket you have control, when it is a government deal you have to take it or leave it.

 

[Qman]

There would be plenty of money for old age care if the government said that the current Trident submarines have been overhauled and will last for another 30 years.
Plenty of money if they scrapped the white elephant HS2.
Plenty of dosh if they scrapped foreign aid.
Ditto sending the RAF to drop bombs on brown people.

We need to look after our own people Mrs May, the ones who have worked all their lives and have paid their taxes so they can be looked after in old age when they can't look after themselves.