Care fee planning
Living longer is good news...isn't it? While we are living longer, there is greater risk that we live longer in poorer health. We may add years to our life, but what about life to our years? In broad terms, if you have assets more than £23,250 in England, you will need to self-fund your own care. This threshold will usually include the value of your home, but it may be disregarded in certain circumstnces, and certain types of investment are excluded.
Care homes can be expensive and vary by location. Many people do not consider what happens if their money runs out, or the likelihood of this happening. In the Care Market survey in 2017 it was found that around 56% of those needing care self-fund, and around one quarter of self-funders run out of money.
The earlier we talk to you, the better, as once capital has eroded by any significant degree it gets more difficult to provide solutions. We can help you make the right decisions by offering professional, regulated and qualified advice, and recommend the best way to fund care from the options available to you.