Brendan Burgess
Founder
- Messages
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Let's deal with selling your house first.
If you have a house worth €300k, the amount of state support you receive will be reduced by 7.5% or €22,500 each year for the first three years. If you have €300k cash, the amount of state support will be reduced by €22,500 as well, so there is no difference in the first three years.
However, after three years your family home is ignored in the financial assessment, but your cash assets are not.
So if you expect to be in the nursing home for more than three years, you should not sell your family home.
If you do sell it, you will have to continue paying €22,500 towards your nursing home fees. If you don't sell it, you will not have to pay anything.
If you have a house worth €300k, the amount of state support you receive will be reduced by 7.5% or €22,500 each year for the first three years. If you have €300k cash, the amount of state support will be reduced by €22,500 as well, so there is no difference in the first three years.
However, after three years your family home is ignored in the financial assessment, but your cash assets are not.
So if you expect to be in the nursing home for more than three years, you should not sell your family home.
If you do sell it, you will have to continue paying €22,500 towards your nursing home fees. If you don't sell it, you will not have to pay anything.
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