For those clients that require care, either at home, or in residential care homes where they are required to fund the cost themselves, we can provide them or their attorneys with options for the best way of covering the fees.
- Reviewing incoming expenditure to ascertain any shortfall.
- Reviewing existing investments for suitability and providing alternatives, if appropriate,
- Maximising use of tax allowances and state benefits
Options to consider will include:
- Use of capital to fund shortfall
- Use of property for funding purposes
- Investment of funds to provide income to fund shortfall
- Purchase of a specialist care annuity to provide income for life
These options are explored and presented in detail to the client and or attorney for consideration and ongoing discussion.
For some clients where most of their wealth is in their home equity release could be an appropriate option, particularly where the main concern is to remain at home. Whilst we do not advise on equity release products, we are able to provide information and assist with the introduction to a qualified equity release adviser.