There are a number of things you need to know before you begin to plan for long term care for yourself or loved ones, especially if you think this will involve a care home at some point.
We recommend that you find a care home financial adviser in Tamworth or near to where you live. This is because the options you need to consider, in order to fund the care, can be complex, will depend upon your exact personal circumstances and may require several meetings.
It is important to know that not all financial advisers are authorised and qualified to provide long term care financial planning. Several of our Advisers at Four Oaks Financial Services are qualified and able to give this kind of advice. So make sure when searching for a care home financial adviser in Tamworth that they are actually qualified to help you.
Ideally you should plan for your long term care well in advance. The government’s Money Advice Service website also supports this view and gives some good information https://www.moneyadviceservice.org.uk/en/articles/how-to-fund-your-long-term-care-a-beginners-guide. However, if planning in advance is not possible, especially if you find yourself looking for the help of a care home financial adviser in Tamworth because you have an urgent need for yourself or a loved one to go into a home, we will still be able to help. After carrying out a fact find with you we can advise on the financial options you have available which could involve maximising existing savings and investments including pensions or even equity release. Although we usually only consider equity release for our clients as a last resort and will be happy to discuss why we take this view with you.
The value of pensions and investments and the income they produce can fall as well as rise. You may get back less than you invested.
Your home or property may be repossessed if you do not keep up repayments on the mortgage.
Equity Release will reduce the value of your estate and can affect your eligibility for means tested benefits.
Your first meeting with one of our care home financial advisers in Tamworth, and across the Midlands, is at our cost and without obligation. Please contact us to discuss your requirements.