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Care

Care

What can happen?

Your home may have to be sold to pay for your Long Term Care costs.
Your savings and investments could be wiped out.
Any income would be assessed and used towards the cost of your care.
Your children and grandchildren could lose their entire inheritance.

What will I have to pay?

When someone enters care they are automatically “means tested” and all of your capital assets, including your home, are taken into account. Only those who have assets below the £14,250 threshold will be entitled to the maximum possible public funding.

Should you or a family member require Long Term Care we can provide help and advice in relation to a number of issues that could arise. Where a financial assessment is required, we can assist with this and ensure that the Correct approach is adopted by the Council or Local Authority and that all the necessary processes are followed. For example, has a Continuing Healthcare Assessment and a Needs Assessment been conducted?

When it comes to moving into a home, we can provide advice on the appropriateness of the contract for the placement, and we can continue to liaise with a Local Authority or Council on your behalf if issues arise on the outcome of a financial assessment.

Should you have any concerns at all at what can be a difficult time, we are able to provide help and assistance.

Who would actually be entitled to this share of the business?

Without a valid Will, the deceased’s share would be subject to the Laws of Intestacy and the person who inherits may not be the person you intended. Would you or your business partner be content to run your business with their surviving spouse or their beneficiaries? This could have a major impact on the running of the business, or the value of the business may now go down following the death of such a key person.