As we live longer, more and more of us face the issue of how to fund our care in old age
The Government have announced that they intend to introduce a Care Bill in this parliamentary session. The aim of the proposed bill is to ensure that elderly people inEnglandwill not have to sell their homes to meet social care costs. It will work by capping lifetime costs at £72,000 by April 2016. It also proposes to extend the means test threshold for financial help in meeting care costs. However, this could still be a big chunk of your estate.
Partner Darrell Collins explains “At present, you may be forced to sell your house in order to meet Care Home fees, and the cost of care can significantly reduce how much you have to leave to your loved ones. However, by planning ahead, you can reduce your exposure”
For advice about care fees planning please contact Darrell Collins at our Midsomer Norton office on 01761 417575.