Pages 6, 7 describe the contribution to care ( "You will contribute 80% of your assessable income and 7.5% of the value of any assets per annum.....
Your principal residence will only be included in the financial assessment for the first 3 years of your time in care. This is known as the 22.5% or ‘three year’ cap")
Where our question is - if she were to decide to sell her home at a later point (a couple of years) after starting fair deals, how is this impact calculated retrospectively? It says to inform the nursing home scheme within 10 days of sale, otherwise it is hard to interpret if the decision to sell at a later stage would "cost" her more. Is the potential impact that the 22.5% three year cap would be recalculated retrospectively based on the sale price at a later stage, or is it possible she could be charged more - the three year cap starting again from the sale point?
Selling the house is an emotional decision for her right now which is why she is holding off, but what (if anything) is the impact of that?
Rules relating to selling the principal residence were relaxed last year - My understanding is that you can now sell your home and the money received is not including in the 7.5% after the 3 year cap.
The recent amendments to legislation for the Nursing Home Support Scheme/ Fair Deal finally came into effect on the 20th of October 2021 after been signed into law in late July. The HSE have now issued their interpretation and guidelines regarding the application of these rules. While the...