Later-life funding for long-term care.

With an ageing population, more people than ever are looking for ways to pay for later-life care. In this article, we will look at the options available and how we can help you with financial planning at what often is a difficult time.

If you are not eligible for State funding you are referred to as “self-funded”. So, the difference between the cost of care and the income of the self-funder is referred to as “the shortfall”.

From our clients and their families, we find that the key concerns are-

• How to fund the shortfall.
• Can the care needs be met for the remainder of the “self-funders” life?
• Preservation of the assets for the future benefit of family and dependents.

The advantages of being independent.

This area of financial planning is specialised. At Anstee & Co we have a team of independent financial advisers who have taken additional professional qualifications in long-term care planning. Being independent means that we will not be influenced by the providers of financial products. Our advice is unbiased. This is unlike some advisers who will only sell their services or work from a limited panel.

What the long-term care plan will cover.

Firstly, we will ensure that all available state benefits that you are entitled to have been claimed.

We will then look at all the options considering cost and risks.

Working with you, we will draw up a cash flow forecast. The forecast will look at the length of time your existing savings and investments will provide the income needed. The financial adviser working with you will also look at all the alternatives. When planning, they will also consider the effects of inflation and investment returns.

How Anstee & Co can help with planning for later-life care costs.

We are a firm of Independent Financial Advisers (IFA’s). This means that the financial planning advice we offer is unbiased. Our experience covers all aspects of personal financial planning, including pensions, estate planning, protection insurance and investments. As previously mentioned, we are a team of Financial Planners who specialise in long-term later-life care funding.

We would welcome the opportunity to discuss how we might be able to provide you with the financial advice and help you require. Why not contact us today? The initial fact-finding meeting is at our cost and is without obligation.

Our Head Office is located at –

• Kettering, Northamptonshire

Our team of financial planner live and make use of meeting rooms in-

• Market Harborough, Leicestershire
• Bedford, Bedfordshire
• Northampton and Wellingborough in Northamptonshire

We also make full use of video conferencing facilities such as-

• Microsoft Teams
• Facetime

We can also arrange a conference telephone call. The choice is yours. There is no need to visit an office as all work can be handled remotely. Meetings can be arranged at a time and in a way that is convenient for you.

If you have any thoughts or comments on this article, “Later-life funding for long-term care.”, then we would love to hear from you.

Finally, the information contained in this article is for information purposes only and does not constitute financial advice. No action should be taken based on this information alone. Anstee & Co is authorised and regulated by the Financial Conduct Authority (FCA).