Later Life Planning

One of the major life events that may affect our finances in later life is the funding of Care either in our own homes or in a Care Home. There is lots of information about Care and its costs out there but which parts apply to us? How do we make sense of it and where are we in the Care system?



Call us on: 01892 770 077Email us on: 77wm@sjpp.co.uk

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Later Life Planning

Selecting the right care for ourselves, or a relative, is something of which few of us have experience. After all, for most of us, it is something we may only have to do once. It is however a growing issue for many people in the UK and will affect an ever-increasing proportion of the population as the trend towards living longer continues.

If you are planning for your own care or that of a loved one, the costs involved can be daunting to say the least. The subject of State care funding continues to receive persistent Media attention, with the Government recently announcing that the introduction of the greatly anticipated care cap has been further delayed until 2025 from the scheduled date of October 2023.

The Government have committed to a further consultation on how to improve care and support for older people and tackle the challenge of an ageing population, with a promise of the proposals being published later this year.


We hope this guide serves to point you in the right direction and starts to take the stress out of assessing your options. When you are ready to make some decisions St. James’s Place have a number of specially qualified advisers who can help you navigate the maze of paying for your care fees.

Your home may be repossessed if you do not keep up repayments on your mortgage.

The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up.
You may get back less than you invested.

The levels and bases of taxation, and reliefs from taxation, can change at any time. The value of any tax relief generally depends on individual circumstances.

Later Life Planning FAQ's

Q: If my Mum/Dad/husband/wife goes into care do I have to pay?
No, you are not responsible for paying for their care.
Q: Can I help them to pay for their Care?
Q: Why do people need Care?
Q: Can I get Care in hospital?
Q: What is the Social Care system?
Q: Who do I contact if I think I need Care?
Q: Do I have to pay for my Care?
Q: Will I have to sell my house to pay for Care?
Q: Why do we have different types of Care Home? Which one do I need?
Q: I am a Carer for my Mum and Dad and I need a holiday. Can I get any help?

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READ THE FULL GUIDE
You can read or download the full guide to Later Life Planning.

Read or download guide

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BOOK A MEETING WITH US
Book a meeting with us today to discuss Later Life Planning.

Call us: 01892 770 077