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Lump sum with ward of Court Office

Zipppy · 2010-12-20 12:34:43

My mum is in a nursing home, she is a ward of court and her house has been sold and proceeds lodged with ward of court office. Now as she is in the Fair Deal scheme, her yearly nursing home charges are only about €7000. I am informed by the WOC office that the lump sum cannot be 'invested' to receive interest and must…

20-12-2010 12:34pm

#1

Zipppy

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My mum is in a nursing home, she is a ward of court and her house has been sold and proceeds lodged with ward of court office.
Now as she is in the Fair Deal scheme, her yearly nursing home charges are only about €7000.

I am informed by the WOC office that the lump sum cannot be 'invested' to receive interest and must simply 'sit there'
if this money was invested, even in a cash deposit, it would possibly earn enough to pay all nursing home charges every year rather than see the capital reduce each year...

Can anyone advise?

1

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