The worst time to find out what your choices are is when you need care or when the money is running out. The Care Estate Planner puts you in control.
How can I protect my savings and property from care fees?
Is it true that nearly all of my income, property and savings are at risk from care fees?
The answer is yes, if you need care in later-life then the reality is that nearly all of your wealth is at risk from a very expensive care system; this includes your income, property and savings.
Most of us are concerned about protecting our wealth, so that we can leave a legacy for our children. Often we think that it is Inheritance Tax that does the most damage and Inheritance Tax planning is regarded as something that is only relevant to the very wealthy. The fact is that Inheritance Tax is only a small part of the problem. Everyone is affected by paying for care!
Care fees can deplete your wealth down to £14,250, considering that Inheritance Tax only applies to an estate (for a married couple) over £650,000, so you can see that care fees hurt everyone.
The financial assessment for care funding takes into account:
- Your income
- Your savings
- Your home
The good news is that there are things you can do to protect your wealth but you need to plan ahead. If you leave it too late then your choices will be limited and you may be caught by the deliberate deprivation rules.
Care Estate Planner
The Care Estate Planner from CarePod™ is included in our Lasting Power of Attorney service making it great value for our customers. It provides you with all the information, guidance and advice you need to help you to make the right decisions, so that you can plan effectively to protect your income, your wealth from the care system and puts you in control of any care needs decisions.
- Understanding the care system and how it works
- Understanding the legal framework and making decisions for someone who has lost mental capacity (for example through dementia)
- The care funding rules, understanding the financial risks and why it is vital to take decisions sooner rather than later
- The Government’s reforms and the dangers of complacency
- Your choices for protecting income and assets
- When the NHS will pay for care and why they won’t
- What to do if you are concerned about an elderly relative
- In addition you receive permanent access to our helpline 5 days a week providing information, advice and guidance at the end of the phone
- You will be assigned a dedicated and professionally qualified Care Estate Manager
- Request a personal care funding review which includes a financial assessment setting out the risks you currently face and your choices for protecting income and wealth
To find out how CarePod™ can help you please call us on: 01934 836159 or email us at: firstname.lastname@example.org