Long Term Care Fees

If you have a relative either in, or about to move to a residential or nursing home, the process can be very disruptive and emotionally draining. If they have to self-fund their long term care fees in whole or in part, then lessening the impact on the available finances is where we can help.

You have a stark choice. Either:-

• The money raised will be sufficient to pay the care fees both now and in the future and will last for the lifetime of the person in care. In that case, the remaining money will eventually be distributed to the family, or in accordance with your relative’s Will
   

• The fees for the person requiring long term care outstrips their funds. This means that there can be no inheritance to pass on, but worse, your relative may have to move to a cheaper home to continue receiving Local Authority funding. This is likely to be at a time when they are most frail and vulnerable.

So, what can you do?

Get in touch with us. As an independent financial adviser with specific qualifications to deal with these matters we are qualified to advise.

Undertake a realistic appraisal of your relatives potential life span. Whilst it is perhaps a tendency to assume our parents or grandparents will go on forever (and we naturally don’t want to think of the alternative), someone admitted to a Nursing Home in their 80’s with severe ill health is unlikely to survive another 3+ years. On the other hand, someone in their 70’s suffering from cognitive impairment may be quite happy at a Residential Home and survive for many more years.

Other sources of Guidance

The Direct Gov website provides a huge amount of information and links to related agencies, so we haven't  tried to re-create the information you can obtain there. Instead, you can navigate to their site by clicking the icon in the right hand margin.

If you need help in finding a Care Home, need advice on other aspects of care and funding, then why not consider using Grace Care Consultants. You can access their website using the link to the right. If you are interested in their services, please contact us in the first instance as we can arrange a special 10% discount on their normal tariff as a selected professional introducer.