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Estate Planning Solicitors

Planning For Care Home Fees

Planning for care home fees now can give you peace of mind for the future and ensure you still have something to pass on.

If you ever need to go into a care home, you’re usually expected to pay for your own fees. Your local authority will undertake a financial assessment to find out if you’re entitled to state funded care – if what you own exceeds £23,500 they may make no contribution to your fees at all.

The average care home costs between £2,000 and £3,000 per month, and an individual will on average stay there for 4.5 years. This means that your estate might have to foot a bill of £135,000 – or more – to fund your care.

If you do not plan for these potential costs your home may need to be sold to pay for your care, which could leave very little for your loved ones when you die. Our solicitors can help you plan for care home fees in a number of ways. We can:

  • Advise you on any state benefits you’re entitled to
  • Structure your Will (and your spouse or partner’s) in the best way to protect inheritance for your loved ones
  • Advise on how you own your home with your partner, to make sure both you and your assets are protected
  • Help you to explore and claim other methods of funding such as NHS Continuing Healthcare.

Planning for fees is not just about putting some money aside now. It’s essential to look at your estate as a whole, how you own your home and how your assets are structured.

Our team has considerable experience helping people plan for care home fees. We can advise you on the best way to structure your assets so that you’re prepared for future costs, without damaging the inheritance you want to pass on to your loved ones.

Call us today on 0370 1500 100, or fill out our online form and we’ll call you back.

We also offer a Moving Into Care package that helps you and your family members make the right decisions about moving into care. For a fixed fee, we'll guide you through the each step and give you advice on your options. Find out more about the Moving Into Care package

Payment options to suit your needs and circumstances
Detailed knowledge on different funding options for care
Offices in 15 locations across the country
Will structuring service to protect family inheritance

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Planning For Care Home Fees - More Information
    • Is There Any State Support For Care Home Fees?
    • There are two bodies that contribute towards care home fees:

      • The NHS – based on your condition
      • Your Local Authority – based on your finances.

      The NHS will only pay your fees if you are very ill. The Local Authority will do a financial assessment if asked, to see if you are eligible for state-funded care. They may not make any contribution if you own more than £23,500.

      We can help you make sure your assets are structured in the best way, so you can take advantage of any state support you might be entitled to. Call us today on 0370 1500 100, or use our online form and we’ll call you back.

    • What Happens If I Don’t Plan For Care Home Fees?
    • Unless you become very ill, it’s likely you’ll have to pay for most or even all of your care home costs. If you don’t plan for possible fees you can’t be sure how your estate will be affected in the future.

      Some of the consequences might be:

      • You have to sell your home to pay for fees
      • Your loved ones won’t get the inheritance you wanted to give them
      • You can’t take advantage of state support you should be eligible for.

      We can help you plan now so that both you and your loved ones are looked after for the future. Call today on 0370 1500 100, or use our online form and we’ll call you back.

    • Does It Matter How I Own My Home With My Partner?
    • If you own your home with your partner, the type of tenancy you have can be very important in planning for the future. There are two types of tenancy:

      • Joint tenants – you own equal shares in the property, which automatically passes on to the to the other tenant when you die
      • Tenants in common – you own separate shares (which don’t have to be equal), which you can pass on to someone else in your Will

      In some cases it can make more financial sense to become tenants in common. You can leave your shares in the property to someone else, or set up a trust to protect both your assets and your partner’s best interests.

      Read more about severing joint tenancy.

    • How Is My Home Assessed For Means-Tested Benefits?
    • The financial assessment will only consider the share you own in a property – so if you own it with your partner you’ll only be assessed on your share.

      This is why it can be beneficial to become tenants in common, as you could designate a smaller share of the property to one of you, or put it in a trust.

      The value of the share is judged at its ‘market value’ – i.e. what you could actually sell it for. However, it’s possible to argue that the value of your share is lowered because fewer people would want to buy half a house with someone they don’t know.

      We can help you with financial assessments to make sure you get as much support as you can. Call today on 0370 1500 100, or use our online form and we’ll call you back.

    • Meet The Team
    • Our partner-led team comprises experts in probate, wealth structuring and tax. In addition to our expertise in tax, trusts and estates, we have financial advisors and chartered tax advisors who can help you plan for the future effectively.

      We hold membership of many professional bodies, including STEP (Society of Trust and Estate Practitioners), CIOT (Chartered Institute of Taxation), and CILEX (Chartered Institute of Legal Executives).

      All this means we have the multi-disciplinary expertise to give you the very best. Whatever your needs, we can help you plan effectively for the future.

      Meet the team

Irwin Mitchell are a very professional, trustworthy and straightforward company to deal with. I would recommend them to anyone."

Frank Clayton, client

Frequently Asked Questions

What Is An Asset Protection Will?

With an asset protection Will you can leave your estate to a trust or to other beneficiaries, instead of your partner. This can be helpful to make sure:

  • Your partner doesn’t have to pay as much inheritance tax
  • They don’t become ineligible for state support for their care

Our trust administration team can talk you through the benefits of an asset protection will, and whether it’s right for you.

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What Is A Lifetime Asset Protection Trust?

A lifetime asset protection trust is one you set up while you’re still alive to safeguard assets and provide for loved ones – including yourself, if necessary.

However, setting up a lifetime asset protection trust is not a good way to shelter funds from a financial assessment for care home fees. If this is the main reason for setting up the trust, the local authority will include these assets in its financial assessment and you’re unlikely to qualify for support.

We can advise you on the best way to structure your assets to take advantage of state funding. Call today on 0370 1500 100, or use our online form and we’ll call you back.

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Why Choose Irwin Mitchell?

We have one of the strongest multi-disciplinary teams in the country, with experts in wills and probate, tax and trusts, and every aspect of asset management and financial planning.

We also have a Public Law team who can help challenge decisions made about the funding you’re entitled to or the type of care you receive. Because we’re a national firm, we have experience of the different local authorities and NHS bodies across the country, meaning we can offer advice tailored to you and your regional area.

Our Court of Protection team supports many vulnerable people in the later stages of their lives, helping protect decisions about their finances and healthcare. We act as attorneys or deputies for more than 900 clients and are panel-approved by the Office of the Public Guardian.

We have the expertise you need under one roof. We can help you draft your Will and plan for your financial security, as well as advise on your healthcare and welfare.

Call today on 0370 1500 100, or use our online form and we’ll call you back.

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