Long Term Care Fees
Meeting the cost of residential and nursing care in old age is a growing issue for many people in the UK.
Under current legislation if you have assets, normally including your home, over £23,250 in England then you are regarded as ‘self-funding’ and you generally have to pay for your own care costs.
Whether you are a relative or someone who needs to pay for their own care, the costs involved can be daunting to say the least and it is not surprising to learn that more and more elderly people are having to sell their home to help with the funding burden.
Going into care can be an emotional and difficult time. However by providing you with professional and independent financial advice on the range of Long Term Care solutions we hope to take some of the stress out of the process by helping you enjoy your later years in the care home of their choice with your family's inheritance preserved.
Long Term Care funding is a complex area, not one for a DIY approach, which is why the Financial Conduct Authority has insisted that financial advisers working in this field must hold specialist qualifications.
Scott Gallacher of Rowley Turton is a qualified long term care funding specialist and if you or a family member are concerned about the costs of current or future care you should call Scott on 0116 282 2177 as soon as possible.
Remember, it is never too soon to speak to us and delay could be costing you and your family money, for example:
- You could miss out on establishing specialist Will trusts that, in the event of your death, aim to keep your capital out of your partner’s estate for future long term care fees.
- If you are already paying for care then your capital could already be eroding due to the care costs and it is important to act before it is too late.
- The government could change the rules at any time and close the planning opportunities currently available.
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