Long Term Care Fees Planning and Advice?
Long Term Care Fees Planning & Advice
When a loved one can no longer cope alone and needs to move into long term residential or nursing care, this is an extremely stressful time for all concerned.
If you are adjudged to be ‘self funding’ you will find very little help from your local authority, but where do you turn to for help and financial advice? Care home fees can be very expensive and often the family home will need to be sold in order to meet the costs.
Not all financial advisers are qualified to give advice in this highly complex area of financial planning, you need to talk to a specialist adviser who can talk sensitively to you and guide you through the various planning methods that will ensure, that the care fees will be met and as much of the estate as possible can be persevered for future generations.
We will ensure that you are claiming all the benefits you are entitled to and signpost you to other professional advisers to ensure all your needs are catered for.
What is long term Care
Long term care is needed when a person becomes ill or suffers a disability that makes them unable to carry out their activities of daily living, with the probability that this disability will continue over the long term. More often than not, it is the elderly who require care over the longer term and it is typically occasioned by either increasing frailty due to ageing or the chronic aftermath of acute conditions such as a stroke or a fall.
Long Term Care can also be required if a person is mentally impaired. The most common form of impairment for elderly people is dementia, and a common form of dementia is Alzheimer's Disease. A person suffering from dementia will need personal supervision and assistance to carry out normal daily activities.
The care required can take many forms, from simple domestic assistance to medical interventions and may be provided in a care home or in the person's own home.
The long term nature of the care needed, and the fact the person is unlikely to recover (they have a chronic condition), is what distinguishes this situation from the conditions covered by Private Medical Insurance - which covers acute medical conditions (i.e. conditions from which a recovery is expected).
Many people would have hoped the National Health Service would look after them. They might have paid National Insurance contributions and taxes all their working lives, and recall the original intention of the Welfare State to care for people 'from cradle to grave'. But the NHS no longer covers all the costs associated with the care of incurable conditions in old age.
Since the Community Care Act, which was passed in 1990, took effect in 1993, that task has been transferred to Local Authorities. The NHS will only provide and/or pay for the Nursing Care Service Component of a person's long term care service needs. All other costs and services associated with long term care are the care recipient's responsibility unlss they qualify for Local Authority assistance. Although in Scotland from July 2002 Free Personal Care has been available.