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£72000 = £150786

By on March 10, 2014 in Latest News

Calculations by the Labour Party indicate that despite the proposed system of capping care fees for the elderly the figure of £72000 is more likely to finish up at £150786.

This is largely because the ‘hotel and accommodation’ costs of residents in care will not count towards the cap. Neither will the so called ‘cost of living’, such as food and utility bills.  The effect of these means that the typical care home resident in England will be spending £610 per week on care but only £292 of that would count towards the cap.

Labour warns  that tens of thousands of pensioners will die before the Government steps in with financial help.

Even the Charity ‘Age UK’ has described the new proposals from April 2016 as ‘less generous than originally hoped’

David Dexter says that’ this just demonstrates how vital it is for house owning couples to have a Property Protection Trust Will or even a Lifetime Property Protection Trust to ensure the property will not have to be sold to meet the fees. Widows,widowers and single persons can also use the Lifetime Property Protection Trust to secure their property for loved ones. Act in good time, he says, to save the inheritance which you have built over a lifetime.