care home costs uk

Are you Prepared for Later Life Care?



Posted on: 25th November 2020

As we are all already aware that the care home costs UK within later life is substantial as it stands, there are few who grasp the full extent of costs for care homes and do not allow themselves to cover those costs adequately.

It may not be something that plays on the mind as much as it should, but having independent financial advisors Cheshire create a comprehensive wealth strategy can make all the difference in being prepared financially in the advent of long-term care being required for yourself.

The Landscape As it Is

If you live in the United Kingdom, people with assets over £23k are expected to provide their own care home costs unless they have significant ongoing health requirements.

By making contingency plans for those care costs in later life, for a care home or home care, you can ensure greater peace of mind whilst also being able to choose from the best options available. Other than that options to consider in inheritance tax planning or even an annuity for the care home fees.

Acting Early

When it comes to retirement planning Cheshire, those later life costs can be worrying at first.

By working with independent financial advisors Manchester you can set up a care cost plan to ease all worries that come with impending care costs when they are needed. Over time it is expected that plans will change, and having a financial advisor on hand to guide through the best actions to safeguard your finances during those instances will give a peace of mind for the rest of your life.

Setting up care costs can be achieved by a number of ways that your financial planner can best advise, from care home tax planning for capital maintenance to aid inheritance plans all the way to care home fee annuity.

We understand that when a family needs care it can be a stressful time with many decisions to face and many areas to focus on. With the best independent financial advisors UK you can be sure that any guidance given is to aid the process during these times.

Guidance When All Feels Lost

Whilst it’s perfectly normal to live for now and not contemplate your later life it is still a moment in time you will reach with every passing day.

By having contingency plans in place that are fully structured and laid out you can enjoy each day moving forward without that albatross of financial paranoia hanging over your shoulder, giving you the opportunity to enjoy life as it happens for longer.

Contact the team at Haven IFA to ensure you can still live for the moment whilst on the road to living a life of financial comfort and full understanding of care home costs UK.