Last year, 20,000 pensioners, an average of 60 a day, were forced to sell their homes in order to pay for residential care.
At present, the law states that if you require care and have assets worth more than £23,500, you pay for the personal care you receive.
A recent example in the national news was a widow who had developed Alzheimers. She was moved into a care home and forced to sell her property. This particular lady paid tax and National Insurance throughout her working life and is now left without a home or pension due to the care scheme.
In addition, her daughter was required to contribute £1,424.76 every month to pay for her mother; a fact that Neil Duncan-Jordan of the National Pensioner’s Convention has proclaimed as ‘grossly unfair’.
Until laws are changed, gaining the right advice from a financial advisor can potentially help you avoid the same dilemma as this family. Please call cba financial services, chartered financial planners on 01482 881919 or visit the CBA web site.
