If you live in England, 3 threshold levels are considered:
Less than £14,250
If your assets have a value of less than £14,250, then you will not have to contribute to the cost of funding your care.
From £14,250 to £23,250
Between £14,250 and £23,250 then you will usually be required to pay £1 for every £250 of assets you own between the lower (£14,250) and upper (£23,250) limits.
More than £23,250
If your assets (including most savings and investments) exceed this amount, your local authority will consider you able to pay for care yourself.
Direct payment as a means to fund elderly care
Most of our clients choose direct payment as a means to fund elderly care. It is more flexible option that will allow you to take control over care services. Money granted to you by local council will be deposited into your account monthly. That way you can decide how to spend it.