The Cost of Care

In 2016/17 the average weekly cost of a room in a residential care home in the UK was £600 and a room in a nursing home cost £841. However, these are only averages, the bill could be considerably higher depending on where you live. Someone who is paying their own fees will quickly start amassing a sizeable bill, especially as the average figures quoted here include fees for rooms that are funded by local authorities, who consistently pay less to care homes than self-funders do. Serious medical conditions, including dementia could also mean even higher costs. If you are being assessed for a move to a care home and you own your own home, its value will be part of the means test, unless a spouse, partner or relative aged over 60 is lived there. The financial assessment will also consider any income and savings and investments. However, some assets may be excluded and there are ways to protect your estate so that it is your beneficiaries that receive your assets, please contact the office and make an appointment to see Angela Jellings, who is qualified in Long Term Care Planning. The sooner you act, the better it is for your beneficiaries.