Most of us work very hard over the years to buy our own homes and build up savings for our retirement. We would though like to be able to leave as much as possible for our children and grandchildren after we’ve gone.
Unfortunately, the costs involved in moving into a care home can wipe out your savings and without the right planning, certain assets will be assessed in determining whether the Local Authority will provide care at their cost, or make a contribution towards any private care arrangements. This is likely to mean that your home will be included in any assessment and you may have to pay all care costs yourself, or give up control and some or all of the value of your home.
If you wish to know more about the care system for yourself or a family member, then a good starting point is our free video which covers the following areas.
- Chapter 1 – A summary of the five steps you need to take to understand the care system.
- Chapter 2 – Will the NHS pay for my care?
- Chapter 3 – Getting a care needs assessment
- Chapter 4 – Getting a financial assessment for care
- Chapter 5 – Deliberate deprivation of assets
- Chapter 6 – Getting a carers assessment