Running out of money

If your capital is likely to reduce to £23,250, you must let the council know well in advance as they may step in to help with your care fees. They must conduct an assessment of your situation and may make a contribution.

If the home you have chosen charges more than this, you must find someone to help pay the difference – a ‘top-up’ payment. Whoever does this, whether family or a benevolent charity, they should realise that they may have to pay this for some time. Alternatively, you would have to find a cheaper home.

Understanding your rights before moving into care is essential. There are a number of financial products and specialist companies who may be able to help. It is important to seek advice before committing yourself.