The average cost of a nursing home is over £800 a week, or £41,600 a year.
If you have over £23,250 in assets, you will be expected to fully fund your care. Once you have less than £23,250, the local authority will start to contribute. Once in care, people quickly see their assets dwindle until they are left with only £14,250 at which point the local authority will pay for your care, although your eligible income will continue to be used.
“Martin Cooper gave us time to explain and was just the kindest, most caring and informative person we could have had. He was straight-talking and understood our situation and , so importantly, made us feel as ease.” LA, January 2019
The importance of planning
Often, one of our clients’ highest priorities is to preserve their hard-earned savings and other assets for future generations. With advance planning, it is possible to manage your assets carefully to ensure that they are not all used in paying for your care fees.
In doing this, it is crucial to seek legal advice as under the ‘deliberate deprivation’ rules, local authorities have extensive powers to claw back assets disposed of in your lifetime.
Our highly experienced team will carefully advise you on how your exposure to care home fees can properly be mitigated. Should you be eligible, we can also help with claims for funding for your care.
For further information contact our Lifetime Planning and Wills team on 01225 755656, or complete the contact form at the bottom of this page.