Don't Let Care Home Fees Force the Sale of Your Family Home
You’ve spent a lifetime building your home, filling it with memories, and establishing it as the heart of your family. As you look ahead to your retirement years, it’s natural to want to protect everything you’ve worked so hard for.
Don't Let Care Home Fees Force the Sale of Your Family Home
You’ve spent a lifetime building your home, filling it with memories, and establishing it as the heart of your family. As you look ahead to your retirement years, it’s natural to want to secure everything you’ve worked so hard for.
The Problem: Why Your Home Is At Risk
The Rising Cost of Care
Care home fees in the UK can be astronomically high, with weekly care costing on £1 - £2,000 per week. Which could mean paying £52,000 - £104,000 per year in care costs. These costs are increasing, putting immense pressure on families.
The Local Authority's Role
If your savings and income fall below a certain threshold, your local authority will contribute to care costs. However, if you own your home, its value will typically be included in their financial assessment. This can lead to a situation where the council insists your home is sold to fund your care.
The Impact on Couples
The thought of one spouse entering a care home is difficult enough. The added stress of potentially losing the family home – a place of comfort, security, and shared history – can be devastating. This situation can leave the family without their inheritance.
The Solution: How to Protect Your Home
It's crucial to plan ahead. Taking proactive steps now can make all the difference in safeguarding your property and ensuring financial security for your family. There are legitimate and effective strategies available to protect your home from being sold to cover future care costs.
Your Home, Your Legacy: Protect It From Unexpected Care Costs
Understanding Asset Protection
Learn about legal ways to protect your assets without compromising your financial well-being.
Seeking Expert Advice
Professional guidance is essential to navigate the complex rules and regulations surrounding care funding.
Safeguarding Your Home from Care Costs
On average there are over 40,000 homes sold each year to fund care fee costs. If you have savings and assets worth over just £23,250 you will need to pay for all of your care fees at an average cost of £1,000 - £2,000 per week.
Could your family home be at risk if one of you went into Care?
Thousands of UK married Homeowners are unaware of the potential threat of future care costs to the Family Home. However, there are steps you can take to protect your home, ensure your legacy, and keep what is rightfully yours.
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