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Deprivation of assets if you go on holiday?

(29 Posts)
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Altyann Sat 29-Jun-24 11:15:52

My thoughts are always pay off debt/mortgage, depending on the rate you're on will save more.

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greenlady102 Tue 25-Jun-24 12:34:22

Deprivation of assets only comes into play if you can reasonably expect to need care. If you are in good general health its fine. info here. www.ageuk.org.uk/information-advice/care/paying-for-care/paying-for-a-care-home/deprivation-of-assets/

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Germanshepherdsmum Tue 25-Jun-24 12:27:41

You have to live, and using some savings for a holiday is not unreasonable as you can’t afford it out of income. Same with house repairs or improvements or buying a car. Deprivation of assets is giving money or other assets away when you know you might need care. You’re only 62 and expect to work until you’re 75. Don’t worry, and enjoy your holiday!

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mrsnonsmoker Tue 25-Jun-24 11:49:30

I'm 62 I have about £50k in a pension pot. I've already drawn on it once when I was 55, so every withdrawal from now on will be taxed, and I don't really want to use it to buy a tiny additional income. My plan was to rely on a few small lump sum withdrawals to cover things like house repairs, a second hand car and maybe a holiday or two over the next few years.

I'm assuming an essential cheap car and installing a downstairs toilet will be disregarded but has anyone had experience of being accused of deprivation of assets regarding care home fees if they simply went on holiday? I still work but I can't fund these extras from my salary as that only covers the mortgage (single divorcee, will be paying mortgage off till 75). What do Grans think?

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