(0191) 643 2298 or enquiries@ntcarers.co.uk

Money Matters

This section covers things you might want to think about in relation to money matters. For information about benefits click here.

Managing affairs

Make sure that all important papers are in order and that you know where to find them. Some people choose to plan ahead for their future, by creating a power of attorney or writing a will. Many people find this empowering and reassuring.


A joint account can be useful if the person you care for has difficulty getting to the bank or needs help with organising bills and payments. However, you might want to consider the following:

  • Most joint bank accounts are set up so that both parties are able to manage the account. If one person is unable to manage the account, the bank may freeze it until someone who has the legal power to act for them (e.g. an attorney) is registered with the bank.
  • When paying for care, it is advisable to separate finances. This means that the joint account is split into two and two individual accounts are made (one for each account holder). This means that the amount belonging to the person going into care, and the amount that belongs to the other party, are both clear. Separating a joint account ensures that the partner’s assets are not touched.


These can be useful when you have property or savings. It ensures that your assets are managed in a way that you choose, both now and in the future.

Trusts can be used in financial planning to provide for those who are vulnerable. A trust is created when a person (the settler) places money or assets into the hands of trustees to hold for the benefit of the beneficiaries. The trustees are legally bound to administer the assets in the trust in line with its terms and conditions.

Advance decisions and statements

An advance statement gives you the chance to indicate your wishes and views for the future. These could include where you wish to live or the type of care and support you wish to receive etc. An advance decision is about refusing certain treatment.


Motability Scheme

The Motability Scheme enables disabled people to lease a new car, mobility scooter or powered wheelchair. You may be eligible to join the Motability Scheme if you get certain disability benefits.

The Blue Badge Scheme

Provides a range of parking benefits for disabled people who have difficulty walking. For example, you can park for free in pay-and-display bays and also on double and single yellow lines.

Find out more www.gov.uk

Car Tax Exemption

You are exempt from paying Vehicle Excise Duty (car tax, or road tax) if you’re getting certain disability benefits. If you’re on the Motability Scheme you don’t need to do anything. If you own your car you have to apply for the exemption.

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