Saturday, Nov 17, 2007
Forget that inheritance!
Telegraph: Elderly sell homes to cover care bills
Nearly one in five people has to sell all their assets, including the family home, to fund their place in a care home, according to new research.
Amid the ongoing scandal of people who have worked and saved all their lives giving up everything when they go into a home, it found a chronic lack of awareness of the cost of care.
Six in 10 adults over the age of 50 have no idea how much care homes charge until they are faced with the reality - which is around £25,000 to £30,000 a year.
Posted by tyrellcorporation @ 07:40 AM (567 views) Add Comment
8 Comments
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1. confused76 said...
MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW
MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW
MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW
MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW
MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW
MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW
MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW MEW
.... then what are you left with?
2. stillthinking said...
A bigger problem surely is the slow pressure in financial aspects of life to divest yourself of a job or assets, and accept state provision of care and housing.
While 30K a year for a care home sounds a lot, it is substantially less than the cost of a prison inmate, even an unemployed person is about 16K. I feel that one of the reasons why we have a demographic timebomb is that we longer have any pressure to have children to provide for us in old age, because the government will do so for us.
Any animal population that had 1.7 offspring would be cause for immediate alarm, somehow we are considered above the simple idea that this is an aberration against millions of years of evolution.
The worst damage of the housing crisis is the effect on the number of children we have as a society.
3. deepak said...
Confused76, I so disagree with you oin this.
There is onething called Home Equity Withdrawl and the other selling up to pay health bills to survive.
I find it astonishment that in this so called rich country people die with so much humiliation.
I so agree with David Cameroon on this. The morality has gone down the drain.
As these old people did not care enough for their children are now being left to die.Tens of sex partners, broken marriages what impact does it have on children.
And conversely, becuase children have been thrown out of their home at a young and vulnerable age they do not take care of their children.
And I have heard so many people living in millions of pounds of house (on TV and radio and papers and internet) saying the govt. is doing nothing. I shall ask what are you doing youself. They are your parents, they gave you a life. tried to bring you up.
The way I see it inb UK. Its more important to make money than to take your parents to the doctor.
4. new_order said...
Old people have no use anyway. Why do you think school dinners are so cheap and awful? Simple; you get to cost-cut and they won't live long enough to put too much strain on pensions. It is an accountant's wet dream. Brings a whole new meaning to the phrase "let them eat cake".
5. sovietuk said...
Don't be so insolent HPCshers your taxes are to be flushed down the toilet saving High Street Banks. Anything else will have to paid for by yourself.
6. su said...
Deepak.
I agree with much of what you say. However, I do believe there is a place for social care, particularly when the strain on the family becomes too much or for those with no family. IMO our society has become reliant on the state instead of the family. If there was no social provision I wonder whether the family unit would become stronger out of necessity. If parents knew they would be reliant on their children when they were older I wonder whether they would make more of an effort to build positive relationships with their offspring.
7. Happy Mondays said...
You could probably be right sue ! The family unit is fracturised to such an extent that it would take something of a grand scale to make us stop and think about the society we have built for ourselves, possibly this could be it !
8. alan said...
The government of this country encourages disintegration of the family.
In Essex, if you are a teenage unmarried mum and you get a note from your parents to say you are to be chucked out, the council will fall over itself to give you a nice flat and pay you money to sit there and get another child.
Thinking of staying with mum and dad?...hey, they just aren't interested!
If you give your cash away or gamble and drink it, the DSS picks up your care bill when you are old. Looking after your cash just means you pay it out once you get old and sick. Hardly an incentive to save, is it?
What a surprise that we have such a low rate of saving in the UK - Obviously it's because there is no need to maintain a responsible family unit!