Firstly, the current means test threshold in England for social care is £23,250. Did you know that even if the value of your assets falls below this your local authority or trust will still expect you to contribute some of your income to your care?
And the second thing you may not know is that a Financial Adviser should not give advice on long term care unless they are qualified to do so. This means they hold the CF8 qualification that demonstrates their understanding of the many issues you might have to consider when the time comes for you to start paying for long term care. These qualified Advisers are sometimes called Specialist Care Fees Advisers and several of our Advisers hold this qualification and the others are working towards it.
A survey of Which? Members showed that more than a third of people self-funding their care were worried about running out of money. We highly recommend that you do not leave your long term care planning until the time you need to start paying for care. It is never too early to plan ahead.
Talk to one of our qualified Advisers about Long Term Care planning.