Care - The Dilemma
Long Term Care Funding: 'The Dilemma'
Care fees are not cheap and a lifetime of savings can all too easily be used up, so that little or none is left to pay for care or to be passed on to loved ones!
However, because of local authority "deprivation of assets" rules and Inheritance Tax rules, giving money or property etc away and throwing yourself at the mercy of the "system" is not a good idea either.
It saddens us when we hear an elderly person say that they hope they die before their money runs out as it doesn't have to be that way.
Both the state and local authorities are seemingly stretched to breaking point and increasingly decisions by them are being taken on the grounds of cost rather than what is best for the person needing care.
If your money does run out there is no guarantee that you would be able to continue to stay in the same care home, let alone the same room.
There are a wide variety of ways of planning for the costs of care, both in advance of need or when it arises and whether it be received in your own home or a care home.
Our experienced advisers can help you by providing guidance in choosing the solution that is right for you.... more info
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