Long Term Care

Why plan for your care costs now?

The cost of care in this area is about £60-80k a year – that’s £1,500 a week.

If you have to pay for your care, virtually your whole estate can be used on your care home fees leaving almost nothing to your children or beneficiaries when you die.

Once your total money (from the house, all your savings and half your joint savings with a partner) gets down to just over £23k, the local authority will start contributing to your care. Once you only have £14k left, the local authority will then pay for your care completely.

How to protect your estate

There are ways to protect some of your estate from being used on your care home fees:

  • Tenants in common – this is a way to protect half your house for your children or beneficiaries, from care home fees or remarriage
  • Home Protection Plan – this is a way to potentially protect the whole of your house from care home fees. You must be over 60 years of age and there must be no foreseeability of going into care in the future.
  • Contact me today to discuss how you can plan for long term care.

SO FOR PEACE OF MIND CALL ME NOW On 01489 578931