Active discussions

Please or to access all these features

Talk
Elderly parents
Original poster

Mum's finances if Dad goes into care

40 replies

Snowdrop2016 · 28/11/2024 11:42

My Dad is not well at the moment and it's looking increasingly likely that he will need some sort of care.

I'm trying to work out what this means for my mum financially. She has some money solely in her name and also a joint account with my dad. I assume (hope!) her money won't be taken into consideration?

Also my mum gave up work when we were born, I think she is entitled to a minuscule pension so they both live off my Dads. How does that work if he goes into care, or if he passes away before mum?

Any experience would be great, I'm new to all of this and finding myself trying to sort so many things out!

OP posts:
P00hsticks · 28/11/2024 16:10

AInightingale · 28/11/2024 12:30

Interested in this thread as I have in laws in a similar position, with the dad really needing residential care due to worsening dementia, the mother over 65 but fine to live on alone in the house at the moment. They have about £50K, I think, in a joint account. They are married. Who 'owns' their capital from the POV of the authority?

my understanding is that if they own their own home the value will be ignored while your MIL is still living in it, and any capital in joint accounts will be taken to be half MILs and half PILs.

Lillixyng · 28/11/2024 15:35

If you do take the advice to start making regular transfers to your mum the sooner you start the better. It is quite legitimate as she will be involved in more expenses as his position worsens. Not just her spending money but covering the bills. This also can be started now, Keep a note of where the money is going and what it is for. Transfer DDs and SOs to this account . Again it is a normal thing to do and will not be seen as hiding money, it is true that different LAs act differently.The young lady that came to see me was really lovely. She told me what he was entitled to and where to get help.

One of the best things I did was to make all of my stepdads accounts in to names joint with me. I was also added to all their joint accounts a full account holder. This meant I was really able to help him while my mum was incapacitated and later when he needed help himself.

Bankholidayhelp · 28/11/2024 14:59

Make sure your mum claims all that she can. Use a benefits calculator like entitledto or similar.

The cockroach cafe on the elderly board is useful - even if it's just to realise that there are others in same boat.

My biggest takeaway is to input your own oxygen mask on first - ie don't take on too much!

Original poster
Snowdrop2016 · 28/11/2024 14:17

Bankholidayhelp · 28/11/2024 13:27

Joint accounts will be split 50:50 . Your mum's individual accounts won't be taken into account.

Different experience to a pp - the assessor went through the bank statements with a fine tooth comb, and queried everything that was outside normal household scope. (Inc holidays, payments to children, car purchases etc)

Make sure that property is split as tenants in common rather than joint tenants.
Wills need to reflect changes as well. So it used to be that a common will would say that the spouse would get everything on the death of the other. And what you need to do going forward is to establish a split.

Their property is a whole different problem I fear. It's not registered with land registry but we do have the deeds. Looks like it's in Dads name, they (he I guess) bought it just before they married in the 70's.

It's in a very bad state so is probably not worth an awful lot tbh. One to tackle another day, I had no idea there would be so much to sort out. It's given me a resolve to get my things in order so my son doesn't end up dealing with this!

OP posts:
Original poster
Snowdrop2016 · 28/11/2024 14:07

P00hsticks · 28/11/2024 12:43

When did they reach State Pension Age ?
If they both reached SPA prior to the introduction of the new State Pension on 5/4/2016 then I think your mum would probably inherit part of your dad's state pension if he pre-deceased her.

My Dad is 80, mum is 75. I'm not certain what this means for state pension age but I'll definitely look into it. Thank you

OP posts:
Bankholidayhelp · 28/11/2024 13:30

Make sure your mum/dad are claiming attendance and carers allowance.

Bankholidayhelp · 28/11/2024 13:27

Joint accounts will be split 50:50 . Your mum's individual accounts won't be taken into account.

Different experience to a pp - the assessor went through the bank statements with a fine tooth comb, and queried everything that was outside normal household scope. (Inc holidays, payments to children, car purchases etc)

Make sure that property is split as tenants in common rather than joint tenants.
Wills need to reflect changes as well. So it used to be that a common will would say that the spouse would get everything on the death of the other. And what you need to do going forward is to establish a split.

Lillixyng · 28/11/2024 13:13

It is a good idea to pay some extra money monthly for your mum from the joint account to her single one. My experience is that when assessing assets they did not look too closely at the transaction just the balance. Transferring regular money to a spouse won’t raise any eyebrows. Any money held jointly is halved for assessment consideration. My step dad got my mums private pension paid to him as well. Do you know how much they have in joint accounts .

P00hsticks · 28/11/2024 12:43

When did they reach State Pension Age ?
If they both reached SPA prior to the introduction of the new State Pension on 5/4/2016 then I think your mum would probably inherit part of your dad's state pension if he pre-deceased her.

AInightingale · 28/11/2024 12:30

Interested in this thread as I have in laws in a similar position, with the dad really needing residential care due to worsening dementia, the mother over 65 but fine to live on alone in the house at the moment. They have about £50K, I think, in a joint account. They are married. Who 'owns' their capital from the POV of the authority?

ticktock19 · 28/11/2024 12:01

AgeUK are really good for advice and help in situations such as yours

Original poster
Snowdrop2016 · 28/11/2024 12:00

Thank you, he likely will need to pay, he may tip over.

I just didn't want mum to end up with nothing. She is in good health and needs her money for her future.

OP posts:
Hoppinggreen · 28/11/2024 11:51

I think he may be able to get visiting carers paid for by the Council if he has less than £16000, I think they take his money and half of any joint accounts into consideration.
It will depend on what he needs and how he is assessed etc.

Original poster
Snowdrop2016 · 28/11/2024 11:48

Yes, sorry should have said!

OP posts:
Mrsttcno1 · 28/11/2024 11:48

Are they married?