Care fees planning
Care fees are an emotive issue and a major concern for most people. Alongside inheritance tax, care fees represent one of the biggest threats to your ability to pass on your estate.
At the risk of over-simplifying the situation, if you own assets in excess of just £24,500 and need residential care, you’ll be expected to meet the costs from your own resources. There are various allowances, exemptions and provisions that can legitimately help you to retain more of your assets – and the ability to control your life.
The real key to protecting your assets is taking action as soon as possible. Simply ‘giving away’ assets at the time you need care really isn’t an option.
Our experts will work with you to find the best possible route to maximise the retention of your assets - and the ability to control your future.
For more information on care fees planning for vulnerable people and to start a conversation on how we can help please contact Glen Miles, Head of Vulnerable People (Partner, Private Client).