Joyce´s Story Amy´s Story Grace & Joshua´s Story

Joyce´s Story : Security in Care

At age 93 Joyce realised that she was no longer able to look after herself. She appointed her niece, Susan as her lasting power of attorney who found her a pleasant care home where she is happy and well looked after.

The care home cost £2,820 a month and Joyce spent a further £100 herself. Susan sold Joyce’s house for £190,000 and initially placed the money on deposit at the bank. She quickly became concerned that the interest rate was very low and that Joyce’s money was eroding rapidly.

When we first spoke with Susan we checked that Joyce was claiming all the state benefits to which she was entitled. Her pension, higher rate attendance allowance and private pension totalled £1,280 a month making a monthly shortfall of £1,540 between Joyce’s income and her expenditure.

After discussion it was agreed that an immediate care plan could be the ideal solution for Joyce.

An immediate care plan providing a benefit of £1,540 a month for Joyce’s lifetime cost £69,000. We included a benefit increase of 5% each year to meet the likely increase in the care home fees.

Joyce says that the care plan has given her great peace of mind. She no longer has to worry about running out of money because her income together with the benefit from the care plan should meet her care costs for her lifetime. The property sale proceeds less the cost of the care plan mean that there is £121,000 that can be used to meet her wish to leave an inheritance to her family .

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Important Notes

Our case studies have been written to illustrate various aspects of care fees planning. Although they are based on real clients the names and some of the details have been changed.

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