If you are no longer capable of taking care of your physical, emotional and mental daily needs, you are in need of long-term care. If you do not have a family member or a friend who will willingly take care of you, you will have to resort to a professional care home or facility. If you qualify, the costs of professional health care can be covered by your local authority or continuing care from the NHS.
Before the state decides how if a proportion, all or none of the costs of professional long-term care are covered, the assets of the recipient of long-term care are assessed by the state. If the state determines that your assets are sufficient to cover the costs of long term care, the state does not cover any of your long-term care costs except by the provision of Attendance Allowance or Registered Nursing Care Contribution. Deprivation of capital is a common way to get the state to finance the costs of long-term care.
Deprivation of capital is the process of transferring assets out of your name so that they would not be taken along in the means test done by the state to determine whether or not you qualify for state financial aid for long-term care. It is one way that people believe they can be avoiding care home fees and additionally deprivation can be done in several different formats. (more...)