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FSA

Residential Care

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... from a Chartered Financial Planner. Below are a selection of questions and answers as examples of how we may help.

Q: I believe that my husband / wife / may need care soon and I am not sure that we can afford it?
A: We will take note of your current income and investments to demonstrate what level of care is possible without placing undue strain on your own financial assets.

Q: My parent is going into Care. I am worried about the funding of this. Can you help?
A: Yes. We can discuss the alternatives with you before calculating how best to produce the income required from the resources available.

Q: My parent is already in Care. Am I too late to provide for the fees from their available investments?
A: No. We can discuss the options available to you and recommend which, if any, is best suited to your situation.

Q: I am approaching retirement now and have capital to invest. Is it possible to plan personally for residential care?
A: Yes, it is. We will discuss the options open to you before recommending which, if any, are likely to provide value.

Q: Should we insure the residential / nursing home fees?
A: By reference to the resident’s medical condition and expected longevity we will calculate the fees likely to be paid over their lifetime and compare these with the insurance premium quoted. As an alternative, we will provide figures allowing you the option of 'self-insurance'. That is investing the premium you may have paid and withdrawing the fees from it.
 

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