Long Term Care Planning – Are you concerned about this for either yourself or a loved one?
We tend not to think about how to pay for long term care until one of our relatives has to go into a care home. It is only then that the impact of providing this type of care becomes clear. The weekly costs can really start to mount up, particularly if 24-hour residential support needs to be on hand. Therefore, it is not surprising that most people do not have sufficient income to meet these costs.
However, by paying either a monthly or a single premium, you can add to the amount currently available through state benefits to fund the cost of such care. This means having to deplete less of your assets to meet the cost, thereby leaving more of your estate for your beneficiaries when you die.
Our information on asset preservation may also be of use when researching this complex subject area.
Our specialist team of solicitors in Newcastle upon Tyne and South Shields can offer holistic advice concerning all issues around long term care planning. We know no two situations are the same so we offer personalised solutions as to what is best for you and your family. Contact our team on 0191 232 9547 for further guidance.