Planning For Long-term Care

As life expectancy improves and more of us are living into our 80s and 90s, more people need care on a long-term basis. This is something that touches us all, whether directly or through our parents and grandparents. With complicated legislation and many financial options to consider, it is no wonder that moving into a care home or arranging ‘at home’ care can be a stressful and difficult process.

The Cost of Care

The average cost of residential care in East Anglia is around £700 per week and only those with very limited capital means (under £23,250) will qualify for financial assistance (source: Symponia). Although some help can be obtained in the form of attendance allowance, this does not usually provide a complete solution.

One option is to explore the advantages of dedicated financial policies that cover all or part of the cost of care. In the right circumstances, this can provide a core solution and with the help and advice of a specialist, many of the problems of funding care fees can be solved.

How We Can Help

At NW Brown, we have a team of specialist long-term care planners who are qualified to give accurate, sensitive advice for those contemplating care, their relatives or those already in care. As experts in long-term care financial planning, we can guide you through the complex legislation, what the State provides and the potential financial solutions. If you would like to discuss long-term care planning, your own needs or the needs of your relative or client, please contact us.

For more information about our IFA and financial planning services, simply complete our enquiry form, send us an email or call our Cambridge office on 01223 357131 or our Norwich office on 01603 661156.