Ill parent and financial planning

[Hoddo]

My mum and Dad are in their early 60s. Mum has advancing MS and will soon require home-based care which will swiftly be followed by residential care - the full-time care my Dad so diligently provides is reducing as her demands increase and he gets older.

My folks have reasonable pensions which, according to my Dad, put them just the wrong side of receiving financial support with any of the care outlined above.

They do not have large cash savings and my Dad is anxious he could be forced to use what little cash he has and sell their home to support Mums care. I am concerned that when the inevitable happens he will be left with very little other than a pension.

I am at the start of the research process to help with his financial and inheritance planning - for the record, neither my brother or I want or need any inheritance but he is determined to ring fence as much as he can for his grand children.

How can I secure the house so they're not forced to sell it?

Any other suggestions or ideas are most welcome.

Thank you.

[Ginge R]

With my blunt hat on, and with my scant understanding, the first thing your dad must realise, is that the plan must focus on the needs of his beloved wife and your mum, and then himself. Only then, when there is clarity of thought about the logic of priorities, should you approach a planner. Any residual benefit to grandchildren should be a 'nice to have' left-over. It will be a very stressful and upsetting time for him.

https://societyoflaterlifeadvisers.co.uk/About

[Dixy]

Get in touch with the MS society, because there are so many people with MS they are less able to give financial help but are experts in knowing what your parents are entitled to and helping make sure they get it.

[Dan_M5]

You should get quite a few benefits. My father has MS and has for near all my life 30years