Long-Term Care Planning

With the good news that people are living for longer than ever before comes the not so good news that this means they often require care for longer and this can be expensive.  Fortunately, there are a number of methods people can use to help fund their care needs so whether they would like to move into a care home or receive the care they need in their own home, they can afford to pay for their care without completely diminishing the inheritance they can pass on to their loved ones.  Because the best method of paying for your care will vary greatly depending on your circumstances, we can advise you on your options and help you choose the most appropriate way for you.

The need to access funds for long term care is such a serious issue now that a number of grants and allowances are available through the NHS and local councils but not everyone is eligible and they do not necessarily cover everyone’s needs or wants with their care.  Most people will need to self-fund their care to some extent and that is where we can help people understand their options.  There are insurance policies available to help people pay for care as well as long term care plans.  People requiring immediate care can purchase annuities to pay for their care long term for a one-off payment and can use their pension fund to do this if necessary or preferred.  Other options include using savings, investments and selling off property to access the money needed to pay for care and some people choose mortgage options such as equity release and lifetime mortgages.

When you work with us, we make sure you understand all these options to make a fully informed decision on the best ones for you.  It is impossible to know exactly what your care needs will be but it is possible to plan to ensure you are well provisioned in most eventualities.