Long Term Care

Youth is full of pleasure, age is full of care; - William Shakespeare

If you are having to make decisions, or help a loved one make decisions, about whether or not to go into a retirement or nursing home, you will know that there are a lot of issues at stake:

• Care at home or in an institution?
• Which home to choose?
• How to organise your finances?
• How to dispose your own home
• What about the children's inheritance?

These and other decisions will need to be discussed with family, friends, social workers and other professional advisers. But when it comes to the finances we may be able to share one of the largest burdens with you.

Inheritance tax can mean that the Inland Revenue will take 40% of the value of everything you own above £312,000 (2008/09). Without adequate planning the Local Authority can take up to 100% of the value of everything you own above £22,250 (2008/09 England) to help pay for Long Term Care needs.