- Bromley020 8290 0333
Planning for Care and Nursing Home Fees
If you possess assets over £23,250.00, you will be expected to pay the costs of any care home fees you incur, even if it means selling your family home to pay them.
At Judge & Priestley Solicitors we have the experience and expertise required to assist you in planning for care or nursing home fees, and protecting your assets to ensure you can pass them to your loved ones when the time comes.
Options Available to Protect Your Assets and Avoid Care or Nursing Home Fees
Fortunately, there are a number of different steps you can take to ensure your wealth is protected. They include:
- Setting up a family trust
- Apply for Continuing Care funding from the NHS
- Deprivation of assets (reducing your assets by giving gifts or spending)
- Own your property as Tenants in Common rather than Joint Tenants
- Claim all the benefits due to you such as the Registered Nursing Care Contribution which is paid straight to the care home and can offset your costs
Many people end up paying far more than they need to for care home care due to being unaware of benefits and legal ‘wrinkles’ (such as owning your property as tenants in common). Our team will ensure you are fully informed of all your entitlements so you can plan for your future care effectively.
It is Important to Plan Early
When it comes to planning for care or nursing home fees one of the main factors that will your success is how early you seek advice and start putting an asset protection program into place. Local authorities have the right to claw back money if individuals give gifts or spend large sums in order to avoid deliberately paying care or nursing home fees.
By speaking to us now, we can provide you the best advice in order for you to plan long term for any care you may require and continue to keep your wealth within your family.
Talk to us today by calling 020 8290 0333 to make an appointment with one of our private client specialists.