Long-term care planning
Helping you protect your family wealth for the future.
No one wishes to imagine a future where we might need residential care, but it is an increasing reality as we all live longer, and the demand for care is increasing.
It is essential that each of us has a plan in place for the future – many people still fail to consider how the need for residential care will impact our savings, our investments and even our home. Average care home costs range from £27,000 to £39,000 a year, increasing up to £60,000 a year if nursing care is required.
While some funding may, in limited circumstances, be provided by the NHS, in most cases you will be financially assessed to establish if you are able to pay for the cost of your own care. Only once your assets have fallen to below £23,250 will the local authority start to contribute to your care fees.
Mitigate some of the costs
At B P Collins LLP we can undertake a review of your circumstances and advise you on the best way to structure your assets to mitigate some of the cost of long term care.
Lasting Powers of Attorney
We can prepare Lasting Powers of Attorney, enabling you to appoint someone you trust to manage your affairs, and we can ensure that you receive any additional benefits you are entitled to.
We can help you to protect your family wealth, assets and home and ensure that you can still pass them on to future generations.