Long Term Care

Long Term Care is required when a person's 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 longer term. This is typically caused by increasing frailty due to ageing or the chronic aftermath of conditions such as stroke, fall, severe arthritis etc.

Long Term Care may also be required if a person becomes mentally impaired, with the most common form of dementia being Alzheimer’s disease. A person suffering from dementia will normally require basic assistance at onset but eventually the need will become more complicated as the disease progresses, and as a consequence the cost can rise very significantly.

Care Planning should be part of a normal financial review, as too often people seek help when it is too late to make adequate arrangements, which is normally after funds have become depleted.

We will review a client’s circumstances and offer relevant qualified advice as to how best to proceed. Care Planning consists of different elements and stages and we will accompany you through these to find a relevant solution.

Funding options may include:

• Downsizing to release funds - either by sale or rent
• Using existing investments or capital to facilitate self-funding
• Arranging Immediate Needs Annuities - a lump sum, purchases fees for life
• Equity Release
• Local Authority Funding
• Continuing NHS healthcare
• NHS funded nursing care

It is also extremely important to consider the welfare of the individual and their family, so planning is essential. Not only from a funding perspective but from a legal perspective as well, Lasting Powers of Attorney should be taken out, if action is needed without one you have to apply to the Court of Protection for assistance and this can take time, in the meantime options may have reduced.

We are able to take instructions from both Power of Attorney and Wills, and will provide you with assistance in what is normally a difficult time.

We are Later Life Specialists, and we are there to help you and your family find your way through this complicated area.