My first question is - let's say someone applies for the nursing home Fair Deal scheme and had transferred an asset (eg cash) to a relative, say 4 years before the application. Is this cash taken account of for the duration of their stay in the nursing home or just for the first year (i.e until 5 years have passed since the asset transfer)
Also if someone has 100k in cash assets, as per the Fair Deal rules, 5% of this is payable each year. Is it 5k each year for 20 years? Or is it 5k the first year, 4.75k the second year, 4.5125k the third year etc.
Also as regards the over 70s medical cards means test which takes account of pension, deposit interest and other income - I have been searching for a similar 5 year rule for this but cannot find it. Let's say an over 70 year old transfers cash assets and as a result reduces their income from deposit interest, how is this assessed?
Thanks
Also if someone has 100k in cash assets, as per the Fair Deal rules, 5% of this is payable each year. Is it 5k each year for 20 years? Or is it 5k the first year, 4.75k the second year, 4.5125k the third year etc.
Also as regards the over 70s medical cards means test which takes account of pension, deposit interest and other income - I have been searching for a similar 5 year rule for this but cannot find it. Let's say an over 70 year old transfers cash assets and as a result reduces their income from deposit interest, how is this assessed?
Thanks