Case study: To sell or not to sell a property?

Paul Brace's mother is 88, suffering from dementia and needs to move into care. Paul is selling his mother's house and worried about how quickly the proceeds will disappear in care fees. Mrs Brace has just £2,000 in the Post Office and a very low income. Years ago when Mrs Brace purchased her house, Paul put down the deposit, and so has a 30% stake in the house under Tenants in Common. After assessment for care and financial needs, the Local Authority Social Services worker suggested the house be put on the market straight away, saying that they would fund the care fees for the first 1...