Nursing Or Residential Social Care - A Worse Tax If You Live
What could be worse than a death tax? A 100% living tax.
If you survive later into life you may need to have some form of care, whether nursing care or social care. If you have built up your estate during your life so that it can be passed on to your beneficiaries, this may not happen.
The Community Care Act was introduced in 1993.
If you have assets including the value of your home you may not receive help towards the cost of residential care fees or social care.
Many people will also have to meet the cost of their care if it is delivered in their own homes.
This means that you could have to fund your own fees at a cost of between £20,000 and £30,000 per year.
If you do not have sufficient income to do this then you will have to use your assets. This could mean your estate reducing in value in order to meet the costs of care.
The local authority will not help you until you have used up much of your own money.
We can help you plan for future care costs. We have a specific site dedicated to care in old age - Care Fees Adviser.com.
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