Individuals needing care in later life
Planning ahead for care in later life
Most of us hope for a healthy, independent old age. But the fact is that many of us will need some form of care in our later years. This might be in our own home or in a residential nursing home.
It’s important to plan ahead for this eventuality because care is expensive. According to PayingForCare1 a residential home can cost around £33,852 a year on average. If nursing care is required, that figure can easily rise to over £47,320 a year. And this doesn’t include personal expenses such as hairdressing and therapies, or trips out.
Even the average cost of care at home is £15 a hour2 across the UK and over £20 an hour in the south. So just two hours of daily assistance in your own home could amount to more than £14,600 a year.
We offer a bespoke service to clients and their families who are facing the prospect of looking for care, providing:
- Assistance with state benefit entitlements and claims procedures
- Help with understanding the long term care funding options
- Information clearly explaining the implications of different approaches to long term care planning
- A service which works closely with clients’ families sensitively and appropriately to ensure full understanding of their needs and priorities and how these might be best met
- Detailed and clear reporting on any recommendations
- A fair and transparent service – keeping the client firmly in control
- A wide remit of services beyond long term care incorporating all aspects of later life planning, such as mitigating inheritance tax
- Links to other professionals such as accountants and solicitors ensuring a streamlined approach to wider financial and legal matters
We look forward to working with you.