CARE FEES

Care Fees are an incredibly emotive subject. You may be worried about the future effect of Care Fees on the Family Finances. You may also have a family member who either is or will need to receive care at home or in a residential home. You may also be acting as a Lasting Power of Attorney or court appointed Deputy on behalf of a relative, friend or client.

As you may have already discovered, organising the affairs of someone who needs to receive care can often be very time consuming and stressful.

All too often, individuals needing care are discharged from hospital or leave home for a residential care setting and their families are simply left to fend for themselves. Many never obtain specialist financial advice and, with the best of intentions, simply encash investments or use existing cash until it becomes unsustainable.

The local authority may offer some assistance though this is limited in terms of amount and care provider and individuals may have to move to a less desirable situation just when they are at their most vulnerable.

We believe that if a care package is likely to be self-funded then it is absolutely crucial to receive specialist advice from an adviser who understands the care system and funding options as soon as possible while assets are still intact and can be used to their best advantage.

This can involve a variety of solutions which can involve state benefit or funding solutions, the best use of any property, utilising existing and new investment and cash management solutions and Immediate Care Plan annuities.

Please do get in touch for an initial chat to see how we can help.

Useful Links

https://www.ageuk.org.uk/information-advice/care/paying-for-care/

https://www.moneyhelper.org.uk/en/family-and-care/long-term-care?source=mas#

https://societyoflaterlifeadvisers.co.uk/Find-an-adviser/Why-use-a-SOLLA-member