Arranging care for yourself or a loved one can be an emotional and complex process. We understand that it may feel overwhelming, and there will be plenty of things to consider. Whether it’s for yourself or a loved one, your top priority is to ensure the best quality of care in the appropriate setting.
We recognise that choosing the right care is a task that few of us have much experience with. The type and location of care homes, eligibility for state benefits, and funding the care itself, are all crucial factors to consider.
At PW & Partners, we are here to provide you with the guidance and information you need to navigate through this journey with compassion and confidence.
When it comes to long-term care, it’s impossible to predict how long you’ll need it. This uncertainty makes it challenging to determine the duration of care payments.
Running out of funds means relying on the local authority to finance your care. Unfortunately, there are no guarantees that the local authority will maintain the same payment levels. Unless your family is able to bridge the financial gap, compromises may need to be made. Additionally, exhausting all your money for care means there won’t be anything left to pass on as an inheritance.
However, with proper Financial Planning, it can be possible to fund the necessary care for as long as needed. Planning ahead allows you to safeguard your resources and ensure that you have adequate financial support throughout your long-term care journey.
Penny Wotherspoon, our Financial Planning Consultant, is a specialist in Long-term Care Planning and is an accredited Later Life Adviser.
Having spent years closely focusing on the highly specialised area of long-term care, Penny understands this is a sensitive area and so aims to make sure that anyone who has to enter into long-term care has a fully considered set of options. She believes it’s never too early to give this careful consideration. Penny works closely with families and their solicitors when expensive care costs have to be paid for the elderly or vulnerable adults with incapacity.
Click here to download our Long-Term Care Leaflet
Martha, one of our fabulous Financial Advisers and Director, specialises in offering a compassionate touch to long-term care planning.
Situating herself in this sensitive yet crucial space, Martha diligently ensures that individuals facing long-term care decisions are presented with a thorough array of options, emphasising the importance of thoughtful pre-planning. She dedicates herself to supporting families and their solicitors, particularly navigating the financial complexities that come with the care of older adults and those with incapacity.
Click here to download our Long-Term Care Leaflet