CARE HOME FEE PLANNING
Care Home fees, and planning for them, can be tricky. Many individuals opt to not take advice before making decisions about their assets. In certain circumstances, there are ways to plan for such fees but it is not something you should do without taking advice first.
We, at Kindred Estate Planning, understand the importance of wanting to maximise the inheritance that you leave to your loved ones. It is important to understand the role your Will and Lasting Powers of Attorney play. Contact us if you wish to discuss your options further.
See the answers to the questions below to see if your estate would be liable.
More information about Care Home fees can be found on our blog page.
WHAT IS THE CAPITAL
If you have more than £23,250 worth of assets then you will fund your own care. If your assets total more than £14,250 then your care will partially be funded.
HOW WILL MY CAPITAL BE
Capital means all of your assets that have a value, for example, your home, bank accounts and investments.
WHAT IF MY SPOUSE STILL LIVES IN OUR
If you have moved into permanent care and your spouse still lives at home, then the value of your home must be disregarded. There are very strict rules about when the value of the property is not taken into account.
If you would like to arrange an initial consultation to discuss your Will please click here