If you pay for your care
If you have been assessed to receive social care services, we will carry out a financial assessment to see whether you have enough money to pay some or all of your care costs.
The amount you pay will depend on any income and savings that you have and the types of benefits you may receive. This can include the value of any property that you own if you are considering residential care.
If you do not want a financial assessment
If you choose not to have a financial assessment, you will have to pay for your own care. We encourage you to complete the financial assessment form if your savings are below the capital limit (£23,250.00) as you may qualify for financial support.
Self-funding
If you choose to enter residential care and have savings in excess of the capital limit (£23,250), you will have to arrange and pay for your own care. This is known as self-funding or privately funding.
If you have to pay for your own care, we would strongly recommend that you seek financial advice from a Specialist Independent Financial Adviser (IFA) to discuss the care funding options available.
Power of Attorney
Where a person has capacity to plan ahead they can register a person(s) they want to act on their behalf to make key decisions (Attorney), with the Office of the Public Guardian.
There are two kinds of Power of Attorney:
- Lasting Power of Attorney for Property and (financial) Affairs (LPA)
- Enduring Power of Attorney (EPA) – (no longer issued)
A property and financial affairs LPA can be used to appoint attorneys to make a range of decisions and sign documents on behalf of the person.