Care fees planning options
When taking into account the risks associated with avoiding care home fees, we can help advise on the right direction for you by understanding and discussing:
- What care might be needed
- Your entitlement to state benefits
- What care is affordable to you
- What care plans and funding options are available
Long-Term Care Annuity provides a regular income to fund care home fees is one option for consideration, as it guarantees to pay out for as long as the annuitant receives care. It does require a lump sum for the initial purchase of the annuity.
Another option is to make investments in government bonds, shares, unit and investment trusts and ISAs which pay out regular returns that can then be used to help fund the cost of care.
For married couples, the first thing to do is to make sure that your wills and the way that you own your home is as beneficial as possible. For single people or for those who want to go further, then family trusts can be considered.
Proper legal advice should be taken, and we can introduce you to solicitors with considerable experience and expertise in these matters. The value of your home could be saved for less than the cost of a week in a nursing home.