The Fair Deal will have implications for your income and assets when you apply for it.
In the case of single applicant’s, you can expect to contribute 80% of your net income and 7.5% of your assets including your Home. If you are part of a couple you will be paying 40% of your combined income and 3.75% of your combined assets including your Home.
Every applicant’s circumstances can be different and how the Fair Deal impacts them will vary from Applicant to Applicant. If you are applying for the Fair Deal you need to make sure you do it properly and get advice from persons suitably qualified to give it. If you are building an extension on your house you would most likely get a quote before you do so in order to have an idea what its going to cost you. Why would you treat applying for the Fair Deal any differently?
At Fairdealadvice.ie we will give you the advice you require customised to your specific and unique circumstances. Our advice will calculate what the applicant will be paying towards their cost of care and what subsidy the applicant is likely to receive. Our advice will also advise the applicant what the hidden extra costs will be and in the case of couples how much will the applicants spouse have of their income to live on going forward.