Hi Guys,
My parent will soon be going into a nursing home, and I have met with a financial advisor and he has advised me not to apply for the fair deal scheme in year 1, for various reasons which make sense and I understand. A question that I forgot to ask, is if we apply for the fair deal scheme after year 1, does my parent pay 7.5% of his primary residence for only 2 years?
From reading the information of the citizens information website, it states that if you are currently in a nursing home 3 years, then the primary residence is ignored in the calculations, (I assume this is based on the fact that you will have paid privately for the last 3 years, and hence saved the state from paying)
https://www.citizensinformation.ie/...er_people/nursing_homes_support_scheme_1.html
From meeting with the advisor and going through the numbers, my parent would be paying the full cost of care for the first 3 years, due to the value of their primary residence, but I am trying to understand if he will be paying full cost of care for 4 years if we delay the application by a year. Hope that makes sense
One other question that I forgot to ask is, are there every scenarios where a fair deal application would be rejected?
My parent will soon be going into a nursing home, and I have met with a financial advisor and he has advised me not to apply for the fair deal scheme in year 1, for various reasons which make sense and I understand. A question that I forgot to ask, is if we apply for the fair deal scheme after year 1, does my parent pay 7.5% of his primary residence for only 2 years?
From reading the information of the citizens information website, it states that if you are currently in a nursing home 3 years, then the primary residence is ignored in the calculations, (I assume this is based on the fact that you will have paid privately for the last 3 years, and hence saved the state from paying)
https://www.citizensinformation.ie/...er_people/nursing_homes_support_scheme_1.html
If you have already been in a nursing home for 3 years when you apply for the scheme, then you do not pay the 7.5% on your principal residence.
From meeting with the advisor and going through the numbers, my parent would be paying the full cost of care for the first 3 years, due to the value of their primary residence, but I am trying to understand if he will be paying full cost of care for 4 years if we delay the application by a year. Hope that makes sense
One other question that I forgot to ask is, are there every scenarios where a fair deal application would be rejected?
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