- Care fees planning
- Corporate financial planning
- Funding your retirement
- Inheritance tax mitigation
- Investment management
- Support for accountants
- Support for legal professionals
Wherever you're
sitting, make sure
it’s comfortably.
Contact us now.
We can help you plan and give you reassurance when the challenges increase.
The Family Home
The first step, if there is a need to fund Long Term Care, is to approach the Local Authority for a financial assessment. It’s important to remember that the calculations are based on the individual who requires care, and if there is joint ownership only 50% of the value of the shared asset will be included in the maths.
The purpose of the assessment is to establish if the person needing care has eligible assets over £23,250. Most assets are included but there are two very major exceptions:
• if a spouse or relative over 60 is residing in a property (ie: the family home) then its value must be disregarded.
• any investment with a life assurance element (eg: Investment Bonds offered by Insurance Companies) should also be excluded.
Finally, it’s often the surviving spouse or partner who requires Long Term Residential Nursing Care and, as a result, it‘s possible that discretionary or other Trusts may have been used by a deceased partner as part of an Inheritance Tax Planning strategy. It is therefore very important to seek advice.
Click here to contact us and request a brochure, or call us to request a meeting.
The value of investments and income from them may go down. You may not get back the original amount invested.