Which assets of the person who requires care do not have to be used?
There is a special category of exempt assets called Schonvermögen. Examples include:
- Smaller sums of money (from the age of 60 onward or if the person has suffered a loss of earning capacity, € 2,600)
- Reasonable residential property where the person who requires care resides
- Assets that are demonstrably intended for prompt procurement or maintenance of a reasonable residential property
- Capital used for additional old-age pension provisions (according to the German Income Tax Act (Einkommenssteuergesetz)), including the earnings
Items that are essential in order to begin/engage in professional or vocational training or work activities (such as a car)