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If a client needs care, they will be subject to a financial assessment. This will determine if they've sufficient assets or income to pay for their care, or whether they qualify for local authority funding.
Deprivation of assets occurs when someone intentionally reduces their assets to make the financial assessment more favourable. When a local authority considers whether there is a deliberate deprivation of assets, they'll address two questions:
Examples that might be viewed with concern include:
If a local authority is concerned that assets have been reduced intentionally to avoid care fees, they may still include the value of the assets in the means test.
Information researched and accurate as of October 2022. Not to be relied upon by advisers or their clients.
This website is designed to give professional financial advisers information and tools that they can use to help control and develop their business and should not be relied upon by private investors or any other persons.