Health Insurance Childrens Expectations Eroded

[trojan]

Am i correct in thinking that if a person owned a property and unfortunately became senile their children unless they could afford to pay cash for a nursing home would have to apply for a Fair Deal Loan which would diminish the value of the eventual cash they would have expected to receive on the sale of the property?

 

[Andy836]

Yes.
What's the alternative? Everyone elses kids should pay for them?

The amount of house value taken though is capped at 7.5% p.a. for 3 years. After which its free (by free I mean covered by the state, which means its paid for by taxpayers)

 

[huskerdu]

Yes. Your parents house is theirs to do what they want to or to use for their needs. It’s not an automatic inheritance. It’s more important that an old person gets good care than their children get cash

 

[noproblem]

The children could always care for the parents thereby not having the parents worry about anything. However, it's always possible the parents might have a will made and none of the children have been left anything.