Long Term Care Planning

Long Term Care Planning

The cost of paying for long term care can run into the thousands which can very quickly mean your estate is dramatically eroded, thankfully careful planning can help fund or reduce the potential impact of these extortionate costs on your estate.

It is becoming increasingly important to plan for your future in the event of you needing long term care, we can help explain the potential costs and implications of funding for long term care, there are various ways to protect your estate and fund any potential future costs of care, this may consist of :-

– Insurance against you needing long term care in the future.
– Investments to produce and income of the need arises.
– Equity release to potentially fund care home costs.

Latest statistics show that by 2025 there will be 1 million people with dementia in the UK and the government continually evades the thorny issue of helping individuals fund the costs of long term care. An estimated 4 million older people in the UK (36% of people aged 65-74 and 47% of those aged 75+) have a limiting long standing illness. This equates to 40% of all people aged 65 or over.  

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