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financial advice, legal advice, paying for nursing, home care uk

 


Financial / Legal Advice

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See Also: Care Home Regulation / The Royal Comission on Long-Term Care
 

Financial Advice

Care can be expensive, whether it is care at home or care in a care home or care home with nursing. One of the imperatives when considering care requirements is finance:

  • Does an individual qualify for State funding of care?
  • To what State Benefits is an individual entitled?
  • How best to pay for care (either all care or top-up fees) out of capital or personal funds?

The rules covering State funding of care and entitlements to State Benefits are detailed in the section Paying For Care.

There are a number of ways to fund care out of capital and personal funds, and there are a large number of financial products in the market place aimed at satisfying this need. Each individual situation is unique and the individual is strongly advised to consult an experienced Independent Financial Adviser (IFA) to receive expert advice.

The Care Directory can also arrange for you to receive free financial advice from an adviser specialising in care fees planning. Click Here for more details.

From October 2004 the Financial Services Authority will have implemented its new regulations with regard to financial advice given in respect of long-term care. One of the key parts of these regulations is the directive that before an IFA can give advice on long-term care he must be properly qualified to do so on criteria laid out by the FSA. An older person is advised to check that any advice he or she is receiving is from an appropriately qualified person.
 


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Legal Advice

It is wise to consult a solicitor when making family decisions concerning paying for care particularly if considering transferring funds. This may also be an opportunity to consider Inheritance Tax and trust planning.

 
If you require further assistance or would like to speak to the Independent Care Adviser this site recommends please call 0800 137 669 or complete the e-mail enquiry form.


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