What is a financial assessment?

A financial assessment or means test works out if the council will pay towards your care. It looks at how much money you have.

Generally, the council helps to pay for care costs if you have savings less than £23,250.

It may be that you’ll have to pay towards the cost of your care. The more money you have, the more you’ll be expected to pay.

The financial assessment is free and happens after a needs assessment or carer’s assessment.

You don’t need to get a financial assessment yourself.

What happens during a financial assessment?

A Financial Assessment Officer from the council will visit you at home to ask about things like your:

  • earnings
  • pensions
  • benefits (including Attendance Allowance or PIP)
  • savings
  • property (including overseas property)

They won’t need to know about the value of your possessions or any life insurance policies.

It won’t work to spend your money or give your property away before the financial assessment. The assessment can ask you about things you used to own.

If the council thinks you have reduced your wealth on purpose, it might stop you getting any type of financial help.

How to prepare for a financial assessment:

Make sure you have all the information you’ll need.

This includes details about:

  • savings in a bank accounts, building societies, ISAs or premium bonds
  • stocks and shares you own
  • property or land you own

Make a list of any disability-related expenses you have so you remember everything when you’re asked about it.

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Updated 25/08/2021