We can help you to decide the best way to fund long-term care
Long term care
Meeting the cost of residential and nursing care in old age is a growing issue for many people. As life expectancy continues to lengthen, more of us can expect to require some form of long term care.
While the state can help with some costs, eligibility for help is limited and many people find themselves over the threshold for financial support, so it is important to be aware of the financial options available to you.
Most people do not have enough income to cover the full cost of care fees and therefore either have to use capital and hope it lasts or purchase a long-term care annuity, which is guaranteed to cover the fees for life. The annuity is reassuring, tax free, safe and simple, and is the only way to guarantee that the fees can be paid.
We are very experienced and highly qualified in this area of financial planning and currently look after the assets of many care home residents. We provide a service that researches the options in detail and makes a recommendation to the family who can then make the right decision as to how to fund the fees.
We offer a free initial consultation to explain the options, and, for a fixed fee, we will calculate the extra income required and obtain accurate long term care annuity quotes. We will compare this option with using your capital and provide you with our recommendation.
We can either set up the annuity for you or help you manage the capital and your income needs for the rest of your life.
If you have assets, are healthy now and want to know how these can be ring-fenced from having to be used for care fees, we can show you the options.