Financial considerations

Assuming that we do successfully sell the house soon to fund Mam's care we need to consider how best to manage that money. She will not need the whole amount to fund care on a monthly or yearly basis so perhaps we should consider some form of trust arrangement or PoA to control the outgoings for the care.

I don't think this should be me because I suspect only friction will ensue and I don't think I have the energy anyway. I will if you elect me but I'd prefer not. I will make the following suggestions, though:

1. There's the flat fee for the accommodation at the Little Sisters. I don't know how much this is but am assuming that one or more of you are already making enquiries. So some kind of yearly payment or standing order arrangement will need to be set up.
2. Mam will need "pocket money" to pay for hair-dos, clothes and other things - I assume the home will organise trips out.
3. We could invest a large sum into some kind of high-interest account or bond arrangement. I would NOT recommend using an Independent Financial Adviser for Mam's money. National Savings would be far better: guaranteed growth with Treasury backing. You could even use £30K of it to purchase Premium Bonds in Mam's name (the maximum amount one person can own). Then you'd only be gambling interest on the 30K - you'd probably win a bit with this holding, though.

All for now,

Paul