Many people assume that they’ll have to sell their house to pay for long-term care. However, that’s not necessarily the case.
There’s a lot of misinformation circulating about this issue, and it causes a great deal of confusion and distress for families.
Here are five options to consider:
- If you have predominantly health needs, the NHS should pay for your care through NHS Continuing Healthcare.
- You can negiotiate a Deferred Payment Agreement with the local authority, instead of selling your house
- You can take independent financial advice to protect your assets.
- If a spouse or dependent relative lives in your house, it may be protected.
- The value of your house should be disregarded during the first 12 weeks of care (12-Week Property Disregard).
Be sure to explore what’s right and what’s not before you start to use assets or savings to pay for care.