Hi. The house is being sold because only one child lives in Ireland and they don't want the hassle of renting it out. It is costly and expensive to leave it empty. We don't have the nursing home loan, so at 130k a year in care home costs we have to raise the money....
Questions I have:
1. Can the Fair Deal scheme be revoked if the house sale takes them over the care home cost threshold - or is it simply a case that the care home costs are capped for the first three years until the house is removed from the equation?
2. I assume any income from the house proceeds (in whatever form), will form part of their income for however long they survive and will have to be declared to the HSE?
3. Their 'net of house sale' assets will reduce significantly over the first three years as we aren't taking the loan. Does this then allow us to get reassessed for assets, or does it work like that?
Many thanks for any comments or thoughts.
Rebecca