Financial FAQs

General FAQ

What happens if my care requirements change?
Do I need to sell my home to pay for care costs?
Can I nominate someone to take care of financial matters on my behalf?
I would like advice about financing long term care?
What help may be available from the state regarding care costs?
Who can I contact for additional advice?

If your required level of care changes over time we can adjust weekly fees to reflect the change. We are in continuous discussions with residents about this, to clarify their wants and needs.

Not necessarily. You may be able to set up adeferred payment agreement.This is an arrangement between yourself and the local authority. The agreement enables residents use the value of a property to help pay for care home costs. This is typically capped at 90% of the property’s value. It may be worth speaking to your financial advisor about this option. In the interim the below guides offer additional information regarding this facility:

https://www.housingcare.org/downloads/kbase/3091.pdf
https://www.independentage.org/information/support-care/paying-for-care/do-i-have-to-sell-my-home-to-pay-for-residential-care

Yes, you can discuss the option of taking out a Lasting Power of Attorney (LPA) with your family. Once certified by you, your nominated person/power of attorney will be able to make financial decisions on your behalf. For people with a loved one experiencing deteriorating mental capacity. You can still apply to request control of their financial affairs. The below article offers some guidance on this process.

https://www.moneyadviceservice.org.uk/en/articles/if-the-person-you-want-to-help-has-lost-mental-capacity

TLC can you point you in the direction of a professional financial advisers. Our financial advisers are qualified to give advice on long term financial planning for care.

You may be eligible for facilities such as Attendance Allowance & Funded Nursing Care. You should consult your local authority for additional details regarding assessment.

The Society of Later Life Advisers (SOLLA) assist consumers and families in finding trusted accredited financial advisers. Accredited financial advisers are able to provide advice about financial needs in later life. You can contact them at https://societyoflaterlifeadvisers.co.uk/.

Financial FAQs

General FAQ

What happens if my care requirements change?

Do I need to sell my home to pay for care costs?

Can I nominate someone to take care of financial matters on my behalf?

I would like advice about financing long term care?

What help may be available from the state regarding care costs?

Who can I contact for additional advice?