Long Term Care

Very few of us will have given any consideration to what would happen should we be unable to look after ourselves in later life.  Nursing homes and round-the-clock care can be very expensive and, with the current pressure on local authority spending, it is no longer sensible to rely on social service provision to cover the cost.

With people living longer the issue of funding long term care is only going to get worse.  If your assets are over £22,250 you will be assessed as being able to pay for, or make a contribution to, the cost of your own care.  If you are deemed able to afford care, you may have to sell your home, and plans to leave an inheritance for your loved ones may have to be abandoned.  Believe it or not, it is illegal to deliberately deprive yourself of an asset to avoid paying care fees and so a simple transfer of ownership to a son or daughter will not suffice.

If you or a relative is concerned about meeting the costs of long term care then Sense can offer advice from a specially qualified adviser who can discuss with you the options available.  These may include the generation of additional income from capital, equity release schemes, re-writing your will to protect your assets and property, and buying a form of insurance policy.

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