Tag: care

An inquiry has found that government care cuts are putting the elderly’s health and wellbeing at risk.

The 13 month inquiry was carried out by the global campaign group Human Rights Watch and found that older people are facing physical, financial and psychological hardship because of cuts.

Since the government cuts, many elderly people are now finding that they are not receiving the help they need to live independent and dignified lives.

Many elderly people rely on social care services to help them to continue to live independently in the community. But since 2010, when the government cut the funding for councils by almost 50%, there has been a 140% increase in adult social care complaints.

Many elderly people are now receiving incorrect care assessments, which can have devastating effects on their health, wellbeing and independence.

Planning for Home Care Fees

In a country with an ageing population and rising care costs, planning and preparing for care later in life is becoming more important than ever.

The amount of financial support that you can claim towards funding care costs is dependent on the value of your capital assets.

If your capital assets exceed the maximum threshold, which currently stands at £23,320, then you will be required to fund the full cost of your care yourself.

Working out how much you would be required to pay towards your care costs, and where you will find the money, can be stressful and confusing.

At Mark Reynolds Solicitors we offer a care home fee planning and advice service to help you prepare for the future.

Our specialist solicitors can help you and your family to understand what options are available to fund your care and help you to put plans in place, giving you peace of mind that you will be looked after in the future.

For more information about our care home fee planning service, or to book a free consultation, please get in touch by giving us a call on 0800 002 9577.

Nursing home costs can be incredibly expensive. In fact, the average cost for residential care in the UK is £32,344 a year rising to over £44,512 a year with nursing care. The costs can be substantial and can place a heavy burden on families. Often, people have no choice but to sell their homes to cover the costs.

Means-tested equations are used to assess an individual’s assets to determine the amount they should contribute to their care. The cap is set at £23,000 for the tax year, but it also means that property owners will be responsible to pay for their own care if they exceed the amount.

Many are increasingly turning to schemes that place their homes into a trust. Setting up trust schemes can cost thousands of pounds. The idea is to transfer a property into a trust so it can’t be used to fund care costs and to keep assets intentionally low. Such schemes are tempting as it means potentially saving thousands on care costs. But experts warn that their effectiveness cannot be guaranteed. It’s also against the law to transfer property specifically to avoid paying for care fees.

What You Can Do

Rather than participate in risky schemes, here are some options to pay for care costs:

NHS Continuing Care: Those who require long-term care may qualify for funding by the NHS. Eligibility is determined by assessed needs and not on a particular diagnosis. If at least one priority is determined in a health category (e.g. breathing, mobility, cognition, etc.) then you are likely eligible to receive NHS continuing healthcare. You’ll be notified within 28 days of the initial assessment.

Care annuity: Another option to pay for long-term care is to consider care annuities. An annuity is a type of insurance policy that guarantees a fixed income at regular intervals for care costs. How much you receive depends on various factors including your age, health, and the amount you paid towards the annuity. We strongly recommend speaking with a financial adviser if you are considering this option.

To find out more about planning for care home fees, contact Mark Reynolds Solicitors today.