If you live in England or Wales and you have to go into long term care and have assets above the Government’s Upper Savings Threshold, you will have to fund the costs of living in the home and some of the care provided.
You could start by investing or saving over a number of years to build up funds to pay for your long term care, but in reality most people do not make a provision for this. However, as we are all living longer the chances that we will need looking after as we get older increases.
Putting in place the right provision is important, as are finding ways to pay for immediate care needs should you or a relative suddenly need to go into care. In these circumstances we can liase with your solicitor, or help you find one, to help with legal matters such as putting in place Lasting Powers of Attorney.