24 Flashcards
(1 cards)
1
Q
Last year Layla, aged 80, gave 50% of the value of her house to her daughter Cara, aged 40. Cara lives with her husband in their own home. Layla’s house has just been sold for £300,000. How will the sale value be treated under any assessment for residential care funding?
A It will be completely disregarded.
B 50% of the value will be assessed as capital and the remaining 50% will be assessed as notional capital.
C Only 50% of the value will be included in the assessment.
D The value will be entirely assessed as notional capital
A
B 50% of the value will be assessed as capital and the remaining 50% will be assessed as notional capital.
