Care Home Planning

With an aging population and the evolving needs of the elderly, there is a growing need for long-term care planning. It is no longer just a matter of when; it is a question of how.

Currently, the average cost of care in a residential setting range from £29,000 – £39,000 a year, and nursing care fees range from £35,000 – £55,000.  On this basis protecting your assets is more important than ever. The average stay in a UK care facility lasts three to four years, potentially costing over £220,000. This can significantly reduce the inheritance you leave to your family and loved ones.

If your assets are over £23,250, you will need to pay for your care, but if they fall below this, you might receive some financial assistance. Without careful planning, you might even have to sell your home, leaving little for your family, so make sure you plan ahead to minimise stress and financial pressure.

The rules around care homes are complex, involving local authorities and the NHS in decisions about assessments and funding. Our services can help:

Legal Documentation Review: We check important documents like Wills and Powers of Attorney to make sure they match your care wishes.

Asset Structuring: We advise on how to own your property to protect your assets effectively.

State Benefits Guidance: We help you understand and apply for any state benefits you are entitled to.

Alternative Funding Methods: We advise on options like NHS Continuing Healthcare, offering a full financial strategy for your care.

Our team has a lot of experience in managing care home fees. We are here to help you protect your assets and prepare for future costs, ensuring your loved ones inherit what you intend. Please contact our team today for further advice.