Planning for Care Costs
Most people have concerns about the financial implications if they have to go into a residential care home.
We will meet with you to discuss the complex financial rules surrounding the funding of long term residential care, and to put these into the context of your own circumstances.
We will explain the likely implications for you or your family and clearly explain what steps can be taken to plan for funding care costs.
We will advise of the potential risk to family assets, including the family home, and whether any legitimate planning can be undertaken to minimize the risk. We can answer any questions you may have regarding the dangers of gifting assets to your family during your lifetime.
We will work with your appointed Independent Financial Adviser (IFA) to ensure that prudent planning is carried out to plan ahead. If you do not have an IFA, we will recommend and introduce one to you, if you wish.
If you are already living in a residential care home or are likely to go into one in the near future, we can advise on making use of the Government’s “Deferred Payment Scheme”.
Please contact us for further information.