Meeting the cost of residential and nursing care in old age is a growing issue for many people in the UK. As life expectancy continues to lengthen, more of us can expect to require some form of long term care.

While the State can help with some costs, eligibility for assistance is limited and many people find themselves exceeding the financial threshold for support so it is important to be aware of the legal and financial options available to you.

Whether you are a relative or someone who needs to plan for his own care, the costs involved can be daunting. The cost of residential care in the UK is now estimated at £24,908 a year.  If nursing is also required, this can rise to over £34,788 a year And at an average of £17.30 per hr, just 3 hours of daily home care could amount to more than £18,000 per year.

Currently 41% of people who are in residential care are paying for it themselves. It can be tempting simply to try and pay for it out of savings and pension income. But, given the high costs mentioned above, and current low interest rates, savings and therefore any inheritance for loved ones could be quickly wiped out.  

It is therefore a good idea to consider appropriate financial planning to ensure care fees can be met for as long as required without affecting your familys inheritance. 

Here at Brunton Miller we can advise on the various legal and financial routes available to minimise the effect that the cost of long term care can have on your savings. The time to act is now before any requirement for long term care.

Brunton Miller's Private Client Services division is ideally placed to provide guidance on these matters, In addition to the legal advice available from our experienced, qualified solicitors, we have an In house financial advisor who will be happy to advise on the financial matters affecting you, so we can provide valuable guidance on all aspects of long term care.

| Home | Licensing | Property & Business | Court | Family Advice | Estates | Our People | Links | Contact |
Copyright Brunton Miller Solicitors all rights reserved 2018