A new report reveals that record numbers of pensioners are funding their own care fees.
57% of elderley care home residents-231000-are either fully or part funding their care home fees. This is higher than ever before.
At the same time the fees are rapidly increasing as a result of cash strapped Local Authorities reducing their contributions for the fees of the poorest people they fund. Care homes are charging more for the middle classes in order to avoid bankruptcy. The report by healthcare analysts Laing and Buisson, describe this as a hidden tax on the middle class who are being forced unfairly to bear the brunt of austerity measures. They predict that this double penalty will mean more forced sales of houses for thousands in or about to enter care homes.
This is why it is vital to protect properties by use of Wills which include Property Protection Trusts says David Dexter. Even more protection is afforded by Lifetime Property Protection Trusts,he says. Early planning is essential.
Especially now that average care fees are £600 per week or over £2500 per month the cost of such planning can be no more than that to prevent the sale of a person’s home.