Hi
It looks like my mother will be going into a nursing home fairly soon.
I have read the Fairdeal literature but I just want to confirm something.
My mother receives the state pension only as income.
She has savings of €120,000.
She owns the family home (value €200,000).
My father passed away 10 years ago.
So, am I correct in saying that she will have to pay the following each year as part of her contribution to the cost of the nursing home:
80% of income i.e. €10,000 approx
7.5% of her savings less €36,000 (i.e. 7% of €84,000) i.e. €6,300
7.5% of value of family home i.e. €15,000
So, that equates to a total cost of €31,300 each year.
Is this correct ?
I realise that the family home part is not paid each year but instead will be paid after my mother passes away.
Is that the sum total of what she will pay, or are there further expenses that I don't know about ?
Thanks in advance
It looks like my mother will be going into a nursing home fairly soon.
I have read the Fairdeal literature but I just want to confirm something.
My mother receives the state pension only as income.
She has savings of €120,000.
She owns the family home (value €200,000).
My father passed away 10 years ago.
So, am I correct in saying that she will have to pay the following each year as part of her contribution to the cost of the nursing home:
80% of income i.e. €10,000 approx
7.5% of her savings less €36,000 (i.e. 7% of €84,000) i.e. €6,300
7.5% of value of family home i.e. €15,000
So, that equates to a total cost of €31,300 each year.
Is this correct ?
I realise that the family home part is not paid each year but instead will be paid after my mother passes away.
Is that the sum total of what she will pay, or are there further expenses that I don't know about ?
Thanks in advance