Apologies if this has already been discussed.
I'm attempting to do Fair deal applications for 2 elderly aunts who can no longer live independently. The aim is to find a NH where both can reside together. They are joint owners (unmarried) of the family home.
If & when we place them in a suitable NH, the family home will be empty & hard to upkeep as no other family will live there. Would it be wise to sell the home when they're settled & then would all proceeds be used to fund ongoing care? I've read about a 3yr cap, which I don't fully understand- after 3 yrs do any remaining proceeds just sit in an a/c and go into the estate when they pass away?
They have some savings but that would possibly only fund 1 year privately in a NH so some other arrangement ie FD loan or scheme would be required.
How have other people managed this when the owners go into NH care & house left unoccupied?
Thanks in advance!
I'm attempting to do Fair deal applications for 2 elderly aunts who can no longer live independently. The aim is to find a NH where both can reside together. They are joint owners (unmarried) of the family home.
If & when we place them in a suitable NH, the family home will be empty & hard to upkeep as no other family will live there. Would it be wise to sell the home when they're settled & then would all proceeds be used to fund ongoing care? I've read about a 3yr cap, which I don't fully understand- after 3 yrs do any remaining proceeds just sit in an a/c and go into the estate when they pass away?
They have some savings but that would possibly only fund 1 year privately in a NH so some other arrangement ie FD loan or scheme would be required.
How have other people managed this when the owners go into NH care & house left unoccupied?
Thanks in advance!