Care Planning
Care planning for your long term needs can an important step in securing your financial future. As many of us are enjoying longer lifespans and the UK government struggles to cope with an ageing population, we are increasingly likely to have to share the burden of long term care costs with our local authority.
Care planning can help you to deal with the costs of care, and although avoiding care home fees or other long term care fees altogether may not be possible, with careful planning you may be able to protect the assets you value most, while at the same time helping you to attain the level of care that you expect.
Currently if your assets are valued at £22,000-£23,250 (depending on where you live in the UK) you will need to pay all your care fees yourself. If your assets are valued at anything under this amount you are likely to have to make some contribution towards you care fees, how much will depend on exactly how much you own.
If you are eligible to contribute towards or pay for all you care needs careful planning can help ensure that your capital is not depleted prematurely and is protected as far as possible.
Depending on your circumstances, there may be a number of different products and options that available to help you pay for the costs of long term care, including long term care insurance plans or investing for long term care.
For tailored care planning advice speak to a member of an independent long term care planning advice team and receive a free initial consultation.
ABOUT TRUST ONLINE