Long Term Care

Increasingly the impact of costs for care are a big threat to an individual's estate and their family's financial situation.

With typical weekly domiciliary nursing care fees running in the order of £900 per week, individuals needing care are faced with a net income demand of £47,000 per annum. For most this will mean drawing on their savings and eventually the equity in their home to top up pension income in order to meet the cost.

Only when all but a small amount of capital remains will the state be able to help with funding costs. Given the increased burdens upon local authorities, funding levels typically allow for only the most competitively priced care homes to be funded.
The dilemma faced by both the individual needing care and that of their families is can they afford to fund the preferred home where friends are resident and the home is local for the family to visit.

We carry out an assessment of an individual's assets, income and any planning already undertaken to help pave the way for families or individuals to fund the cost of care. We will ensure that wherever possible the income is either tax free or tax efficient and for most families take away the threat of being put in a position of having to consider funding loved ones fees.

For more information regarding Long Term Care Plans please contact us on 01633 415 340 or contact us here

Please note that initial consultations for long term care plans are free of charge and at no obligation.

The above information does not constitute financial advice from Bartholomew Hawkins Ltd or any of its representatives. Investment performance can go down as well as up. Past performance is no guarantee to future performance. Your home may be at risk if you do not keep up the repayments for any loan secured against it. All information is based upon our interpretation of current legislation and taxation which can change in the future.