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TENET - The Legal Brokerage TENET - The Legal Brokerage

We help you plan a safe and secure financial future  you plan how to enjoy it

We can help you plan and give you reassurance when the challenges increase.

As advances in medicine prolong many of our lives, an unforeseen drawback may be prolonged Nursing Home fees. This can erode wealth for many families. The Legal Brokerage can take you through all of the options available and guide you through this complex maze of choices.

It’s essential to research all the funding options before any final choice is made. We can give advice on the key concerns of many carers, including the use and registration of Enduring and Lasting Powers of Attorney, Inheritance Tax Planning – including gifting allowances, the Government thresholds, trusts and so on – protecting the financial status of the carer and overall funding options. We can also perform a capital analysis to determine if all existing investments are included in Local Authority calculations (certain categories are excluded).

If State assistance is not available because the individual has assets in excess of £23,250, they will have to use their own monies to fund nursing home fees (Attendance Allowance and Nursing Care Allowance would still be available). Carers in that event would have to consider the purchase of an Immediate Care Annuity (ICA) or alternatively, re-organise savings and capital to create the necessary income.

In England, if an individual’s eligible assets fall below £23,250 in the 2016/2017 tax year, then the Local Authority will make a contribution to the care fees and the extent of the help offered will depend on the individual’s income. After allowing £24.90 per week for personal expenses and bringing in 100% of any State Pension (50% if private), the size of the support available will be established.

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The Next Move

To find out more, simply click to any of the subjects listed right or contact us here.

THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE INHERITANCE TAX PLANNING AND TRUST PLANNING. 

THE VALUE OF INVESTMENTS AND INCOME FROM THEM MAY GO DOWN. YOU MAY NOT GET BACK THE ORIGINAL AMOUNT INVESTED. 

Care fees planning

Immediate Care Annuities

Investments

The family home

The Alzheimer’s Society