Since Irene wasn’t eligible for any Local Authority funding and her savings were already being used to meet the cost of care home fees, Julie felt she had no other option but to sell her mum’s house. Conscious that this was not what Irene would have wanted and daunted by the decisions that lay ahead, Julie came to us for help.
As with all our clients, we listened empathetically to Julie’s concerns and we spent time understanding her family’s situation. Critically Julie had already been appointed as her mother’s attorney because Irene had set up a Lasting Power of Attorney (LPA). Without an LPA, Julie would have to apply to the Court of Protection to be made her mother’s deputy, which can take months to complete and during this time, would not have the legal authority to make decisions on her mum’s behalf.
We set out a plan for Julie to meet her mum’s care fees and expenses as well as preserve as much of her estate as possible. Our plan combined Irene’s existing investments and savings, and was under-pinned with a deferred care fee annuity that ‘kicked-in’ after an agreed time. Importantly, this approach meant that Irene’s estate would stand a good chance of keeping its value, so that her wish to leave the bulk of it to her children could be honoured.
With our help, Julie was able to replace the stress and confusion of planning for her mum’s future, with the peace of mind that the long term care bills would be paid. Irene is now happy and settled into her care home and Julie is relieved to have had the weight of this daunting decision lifted from her shoulders.