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.
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.
Power of Attorney
Many people experience difficulty when trying to arrange
affairs for someone who cannot make decisions for themselves
due to age or infirmity. Power of Attorney gives an individual
the right to act on behalf of someone else and to make legally
binding commitments on behalf of that individual. Power
of Attorney is not something to be granted lightly, of course.
Most family lawyers will be able to advise on Power of Attorney.
The Court of Protection The Court of Protection exists to benefit individuals
who, due to age or infirmity, can no longer make decisions
of their own and have not granted an Enduring Power of Attorney
to anyone. This might be the case where an individual feels
he or she has no-one they can trust to administer their
affairs or where an individual does have someone he or she
can trust but becomes incapacitated before he or she can
sign the requisite paperwork. The Court of Protection can
be slow – mainly because of the need to exercise prudence
when acting on an incapacitated individual’s behalf
- and can also be expensive. Family lawyers will be able
to advise on matters concerning the Court of Protection.
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