Q&As

Are life policies classed as exempt assets by the local authority when determining an individual’s capital in assessing how much they must contribute towards their care fees? Are personal representatives obliged to report to the local authority if assets come to light after death that were not included in their financial assessment of the deceased’s capital?

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Published on LexisPSL on 03/12/2019

The following Private Client Q&A provides comprehensive and up to date legal information covering:

  • Are life policies classed as exempt assets by the local authority when determining an individual’s capital in assessing how much they must contribute towards their care fees? Are personal representatives obliged to report to the local authority if assets come to light after death that were not included in their financial assessment of the deceased’s capital?

Various types of assets and property are disregarded for the purposes of assessing a person’s liability to contribute towards their costs of care provided by a local authority.

The categories of disregarded capital are set out in Income Support (General) Regulations 1987, SI 1987/1967, Sch 10 (Capital to be disregarded).

Schedule 10, paragraph 15 of the regulations specify that: ‘the surrender value of any policy of life insurance’ is to be disregarded.

For further reading, see Practice Note: Benefits and means testing.

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