Frequently Asked Questions
Do you have a question about care, care funding, state benefits or any other related topic? Please enter it below or email us at care@carefeesadvice.com
"Is it too late to plan my care fees?"
We see many of our clients when care is first needed, or shortly afterwards. Even if you’ve been in a home or receiving care for a number of years, we can probably help. It is usually best to contact us as early in the process as possible, even if there is a property still to sell.
"Is advice really necessary?"
Your care is likely to be one of the largest purchases you ever make. The monthly payments are frequently greater than an average mortgage. Getting the right advice can mean the difference between staying in your chosen care home or relying on the state. It may also allow you to preserve money for your family.
"Should I just leave my money in the bank?"
Possibly, but this will give no guarantee that your funds will last for your lifetime. Also with interest rates at historically low levels there may be better options.
"Can I ask someone else to arrange my funding for me?"
You can appoint someone that you trust to look after your financial or welfare affairs under a lasting power of attorney. Many of our clients are represented by attorney’s acting on their behalf - click here for more details
"What can I do if there is no power of attorney in place?"
If a friend or relative needs care but no longer has the mental capacity to instruct an attorney, it may be possible to be appointed as their deputy by the Court of Protection. click here for more details.
"Do I have to sell my property to fund my care?"
Not necessarily. There are many options available and it may be possible to keep your home and fund your care. An option may be available that could allow you to borrow the money for a care plan, meaning that you can keep the property and rent it out. Every case is different and it is best to consult us as early as possible. We can help you sell your home if you chose to do this. More details...
"Is there a way to guarantee an income for life to pay towards my care costs?"
Yes, a product called an immediate care plan could provide a guaranteed income for life in exchange for a lump-sum payment. More details...
"Are investments suitable for funding care?"
Investments may be a way of receiving a better return than leaving your money in the bank. Whether this is suitable will depend upon your view of risk and whether any guarantees are available. More details...
"Am I entitled to any state benefits?"
The benefits you are entitled to will depend upon your health, where you live and the assets that you own. We will review the state benefits available for you including NHS Continuing Care funding. More details...
"How does your Care Funding Service work?"
There may be more options for funding care than you realise and it is important to consider them all. Most people come to us with the aim of meeting care costs for their lifetime whilst preserving capital. Our care funding service provides you with help and advice throughout the process of arranging and financing care. We will arrange the financial products chosen and can continue to review and monitor them so that they remain relevant as fees increase and care needs change. More details...
If you have a question about care that you would like us to answer, please email us at care@carefeesadvice.com
4 responses to 'Frequently Asked Questions'
Tom@carefeesadvice.com
Added 11-Jan-2010 20:09
The government published a white paper on funding care in July 2009 which set out a number of options for funding care. We felt that no option was particularly well thought through and there was a suggestion that new schemes may only replace existing benefits. We all know that there is no new money available at present.
For any of the schemes to become law Labour would need to win the next general election. Even then it is likely to be 2014 before anything happens!
Don't hold your breath waiting for this one!
Joyce Howard
Added 13-Dec-2010 15:07
I think my mother can not cope at home any longer and it is unsafe for her. She has already fallen once and broken her wrist, however her social worker says my mother is safe at home as she has a carer in twice a day. Is there anything I can do. I fear she may fall again.
Tom at The Care Fees Advice Agency
Added 13-Dec-2010 15:11
Although we cannot really advise about care itself, we would suggest that you seek a second opinion. Your mother’s GP is probably the first person to talk to.
Simon Jones
Added 05-Jan-2010 20:13
I've heard that the government want to start funding care in full. When is this going to happen?