Long term care- planning ahead for old age
Funding residential care in your old age is expensive and planning is vital. Your Local Authority carries out means testing in order to fund care for the elderly and seeking out expert elderly care advice early can make all the difference to your well being in old age and your residential care provision.
When means testing the local authority will normally be take all of your assets into account. These will include all of your pensions including the state pension, personal savings, shares and any other investments. Even your home can be taken into account.
The local authority will only provide help towards the costs of residential or nursing care if your income and assets fall below a certain level set by the Government.
The temptation is to give away assets to your family, so as to prevent them having to be used to help pay for your care fees. However, there is quite extensive and complicated anti-avoidance legislation, and great care has to be taken. We provide expert advice about this.
At the same time, there are many situations where people pay for their care fees, where (if the law had been applied correctly) they should not have had to do so. We have considerable experience in advising in this area.
Call Chris King on 01603 693530 or Gail Frankland on 01603 693580 in our Norwich office
Or Susan Dawe in our Sheringham office 01263 823398
to discuss your situation or contact us