Wright Future - legal services for the over 50s blog

New Lasting Power of Attorney Forms

New Lasting Power of Attorney forms will be introduced from 1^st October 2009.  Professionals and lay people have experienced a number of problems with the current forms which were introduced in 2007.  The new forms will be much shorter, 11-12 pages as opposed to 25 pages, and more user-friendly with guidance notes appearing in the body of the form itself, a separate information sheet and numerous continuation pages to deal with particular issues. 

No need for elderly to sell home to pay care bill  - update

The green paper sets out three proposals:

1. A partnership approach: the state pays around a quarter to a third of the cost of basic social care and support.  Individuals fund the remainder.   
2. A voluntary insurance scheme: state pays the same proportion as in 1. but makes it easier for individuals to take out insurance to cover the remainder at a cost of around £20,000 to £25,000 at today’s prices. 
3. Compulsory insurance for all: costing around £17,000 to £20,000 at today’s prices. 

No need for elderly to sell home to pay care bill 

Elderly people will no longer be forced to sell their homes to pay for care under government proposals unveiled last week. 

A green paper due to be published today sets out different options under which people will not have to sell their homes.  One option is for an “inheritance levy” of between £12,000 and £20,000 to be paid either on retirement or recovered from a person’s estate after they have died.  Another option is compulsory insurance.    

The paper is in response to the spiralling cost of long term care which is a major concern of older people.  The consultation period runs until October and a white paper is unlikely before next year.