It's important to have some financial advice to help you make carefully considered plans for later life and to help with the costs of care.
You might benefit from independent financial advice if:
- You need a small amount of money to fund care at home or to pay for adaptations or extensions to your home
- You have an immediate need for long term residential or nursing home care
- You're already staying in a care home and paying for it from your own income or savings
- You're acting as an attorney or deputy and looking after the financial affairs of someone in any of the above situations
- You're planning ahead for any of the above situations
Financial information and advice may help you to:
- Prepare and plan for care costs and make informed choices
- Prevent you from running out of money
- Provide continuity of care and avoid disruption should you have to move
- Support your choice of care and support
- Consider the options for a property (for example whether to agree to a Deferred Payment)
Independent information and advice providers
Free financial information and advice is provided by a number of national and local organisations, see links below. These advisers are also able to provide advice on areas such as:
- Long-term care funding
- Investments and savings
- Equity Release
- Tax planning
Regulated advisers are able to make recommendations about specific products and will usually charge for their advice.
We cannot recommend a financial adviser, but strongly advise finding a qualified and regulated adviser, should you seek independent financial advice.
The links below may assist you:
Money Advice Service
Paying For Care