Many people have concerns about the escalating costs of care fees. If you can rely on family members to take care of you in the event of ill health or frailty then this shouldn’t be a concern. However, who knows whether care services will be required in the future?
If you have assets, including the family home and money in the bank, you will in all likelihood have to contribute significantly, if not completely, towards your care costs.
Future care planning is important and must fit with your specific circumstances. Our Trust & Estate Planning Team can ensure that we have your legal and financial interests in mind at all times.
Care planning is often something people do not consider but it can have a very detrimental effect on the legacy you wish to leave to your beneficiaries and therefore should be considered within your estate planning.
As difficult as these conversations are, they are important to have.