Long Term Care

The care we might need as we get older could be very broad, and so the way in which we need to prepare for some form of care in our old age is equally broad.  It can mean support in everyday tasks such as dressing or washing, as well as more complex needs associated with mental or physical degeneration.

While some of these medical costs are now paid for by the state, many people worry whether they will have enough money to meet their care needs, or if they will have to use up their life savings and sell their home to meet the rising costs of old age. 

Our financial planning service helps identify the best way to prepare for these varied and complex needs, while recognising that none of us know when or how these things might affect us.  We work with whole families (if it is helpful to do so) to make sure anyone affected or worried by a long term care need, is given the best possible financial advice, leaving them to get the best possible medical treatment as well.

Who pays for long term care?

The situation is somewhat complex as it will depend on each individual case. Fees are made up of various elements, for example, nursing care, personal care, accommodation, etc. There are also significant differences between current practice in England and Wales, Scotland, and Northern Ireland.

Care home fees can amount to

more than £60,000 per annum

Given the complexity surrounding this area of financial advice and the potential for significant wealth reduction, you are strongly advised to contact us for a meeting with our consultant who has the FCA required qualification in Long Term Care advice.