Protecting care fees and capital

Posted on November 1st, by editor in Caring Times. No Comments

|Having previously examined the pitfalls and problems of gifting assets to avoid paying care fee costs, Louise Williams of CareAware reviews some of the positive options to protect capital, while at the same time meeting the costs of care.| For most people, the need for care and the subsequent issues of funding arise without any pre-planning having taken place. It is often a time of distress and the decisions taken at this time can have severe financial consequences. The most important initial requirement is for accurate information about the system, in order to ensure that the most appropriate steps are taken. These may include, obtaining the available benefits, determining which State funding package is most suitable, choosing the right type of home, and ensuring that the legal implications are properly addressed. The Jackson family are typical of the callers who contact the CareAware Helpline. Mrs Alice Jackson is 82 years old and until recently has lived alone. Having suffered a severe stroke she can now

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