Long-Term Care

differing needs

Age UK estimates that in England alone, 1.2 million older people will be in need of care and support by 2040.

Some of us will require little or no care and a minority are likely to need long-term and expensive residential nursing care.

The majority of us will fall somewhere between. Unfortunately, no one can predict exactly how much care they’ll need as they get older.

We’re so lucky to have the use of the NHS which provides our healthcare free at the point of us so it’s often a shock to discover how much professional care and support can cost in later life.

cost of long-term care

In 2024, the average cost of a residential care home in the UK is nearly £40,000 per year, rising to nearly £50,000 per year with nursing care included.

The reality in Bristol is that the costs are much higher than the average with some local homes costing as much as £80,000 per year!

It is easy to see how quickly your hard earned money can be eaten up by these costs, potentially leaving little or nothing to pass on to your loved ones.

There are ways to protect your wealth from being used in this way, however. It’s a complex area with a lot of rules, especially around ‘deprivation of assets’.

protect your assets

We can plan with you and advise the best way to protect your assets for your family through long-term care planning.

This may not be something you want to think about at the beginning of retirement but once you have a plan, the peace of mind that follows makes it so worthwhile.

Get in touch today to discuss your options for protecting your assets from third party costs.