Choosing the right care is probably something few of us have much experience of. The type and location of care homes, eligibility for state benefits, and funding the care itself, are all important considerations.
However, the biggest challenge to navigate is that nobody can predict how long care will be required for and therefore how long it will have to be paid for.
Running out of money means relying on the local authority to fund your care, and there are no guarantees the Local Authority will wish to maintain the same payment levels. Unless your family is able to make up the difference, compromises may have to be made. In addition, of course, using up all the money to pay for care means there is no legacy to leave to loved ones.
However, with financial planning it may be possible to fund care for as long as required, whilst safeguarding as much capital as possible.
At KWM, we recognise that knowing where to start, what Local Authority support is available and understanding how assessments work can be difficult to navigate. Deciding on the type of care required and provider can also create financial uncertainty at what can be a very emotional time.
We can help you explore all the options when it comes to paying for care and making the right financial decisions, providing you with peace of mind at a time when it’s needed most.