Multi-Generational Living - From a Paying for Care Perspective

Introduction

Multi-generational living often occurs when a child takes on a parent’s care needs, and the parties decide to start living together.

This could take the form of one party selling their property and moving into the other’s home; maybe both parties selling their homes to buy one property together; or one party selling their home and either building an annex or making adaptations to the other’s property.

When setting up these living arrangements advisors need to be very careful who they advise (to avoid a potential conflict) and make sure that they are looking at the matter holistically and considering how the arrangement will be treated by the Local Authority in any financial assessment.

This new virtual classroom seminar is suitable for people who are already advising clients about the paying for care rules and have some background knowledge of multi-generational living, as well as professional attorneys and deputies who might need to consider the implications where their clients are involved in multi-generational living.

What You Will Learn

This live and interactive session will cover the following:

• Who is your client - how to avoid conflict/identify potential problems/the importance of cross-department referrals at an early stage
• Gifting v owning interest in property - the impact on payment of residential care fees in future
• How should the property be owned - the impact of having a mortgage
• Moving in v living in an annex - who pays for what?
• Powers of attorney - who to appoint and what to include to make them useful/avoid conflict
• Importance of reviewing wills and problems which might arise - leaving parent the right to live in property/issue of equalising shares between children
• Obtaining carers allowance and any other relevant benefits to be considered including council tax exemptions

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.