Care home fees
Advice on Providing Care Home Fees
Care homes fees are expensive. Through a specialist firm of financial advisers we can give advice on the best and most tax efficient way to provide for care home fees.
As our older population increases so does the number of older people who own their own homes and consequently fail the means test for care and have to pay for it themselves. In fact the most recent research by the Liberal Democrats states that 70,000 homes are sold each year to pay for care. Despite this very few people seek professional advice on what is probably one of the largest financial commitments they have ever made – paying care home fees.
Whether you are being funded by the State or paying privately for your care there is much to know to ensure you get what you are rightfully entitled to in the way of local authority or NHS or welfare benefits. There are also specially designed financial products that can undertake to meet the shortfall in income to cover the cost of care at the outset often requiring just a part of your capital to be utilised to meet care costs releasing the remainder for the eventual inheritance that so many older people wish to leave.
