CARE FEE FUNDING

For those who are, or will be self funding, the problems in trying to fund care fees will be specific to the individual and any potential solution will need to reflect those circumstances and requirements.

For some, the shortfall which exists between income and fee costs is significantly beyond the returns which can be achieved from the low risk investments which are generally preferred. Consequently, the erosion of capital appears inevitable.

Whilst those with a higher income or larger capital base may feel that the capital value can be maintained, the combination of care fee inflation and taxation may present a different set of problems.

Whatever the circumstances, the key to developing an effective strategy is to take an all inclusive view and consider all aspects of the situation.

This is very much the Care Asset Management approach, and all clients are offered a CARE FEE FUNDING REPORT. This report provides a full, personalised assessment of the individuals income, expenditure and tax position. It sets out details of the individuals benefit entitlement, the extent of funding support available from the State and provides a costed analysis of all the funding options available including immediate need care plans, deferred schemes, partial care plans and investment strategies.

The document is essential in presenting the facts to the individual and family to assist them in making an informed decision about the most appropriate funding strategy for them. It also demonstrates that the Attorney has fully discharged his/her legal responsibilities.

	A practical example
	To request a Care Fee Funding report
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