In light of recently published figures which suggest that more than 100 elderly people a week are losing their properties to local authorities to pay for their care home fees, funding the cost of care has become cause of worry for many.
Whilst the Government has agreed to put a cap on increasing care home fees, the fact is that most people will still be expected to contribute towards the cost of their care.
Care home fees can vary anywhere from 400 to 1,000 per week dependent on location and the type of care. Most people will be expected to contribute towards these costs through their income (e.g. their pension) and their capital (e.g. the sale of a home or savings) where this exceeds 14,250.
Understandably, the thought of selling a home which you've worked hard to pay for and want your children to inherit can be heart-breaking, but by seeking advice from a solicitor early on, there may be steps you can take to protect your estate whether that be planning ahead through your will or putting your property in a trust.
There are a number of people and companies selling products and services designed to save on care home fees, such as unregulated will-writers and banks, but many of whom have had little training or knowledge. It pays to seek independent advice from a solicitor, who is well-qualified, regulated and fully insured if anything was to go wrong.
If you would like expert advice on planning ahead to protect your home, speak to one of Emsleys expert solicitors today. We will speak to you about your individual circumstances and help you to find solution that right for you. Call us now on 0113 201 4900.Back to Blog