We are living in an aging population. There are more people over the age of 60 than there are children under the age of 18. In many ways it is a great thing that we are living for longer- it means that we are healthier and modern medical advances are working. It also means that we have more time to enjoy life! However, there are of course some downsides. We will let your imagination think up all the ailments of old age, as for the purpose of this paper we are mainly concerned with one problem; long-term care.
The longer we live, the more care we may require. The current UK state funding aid is limited, and there are no signs of this improving. For many, local council care will be sufficient, but if you would prefer to live your final days receiving the higher level of care and comfort that you would like (and deserve), you must preserve some of your estate to pay for this. Trusts are an option for saving funds to do this. More on long-term care fees later.
If you would like guidance on how you can use Trusts to protect your family’s wealth, we work closely with a number of leading solicitors in this area, and are happy to meet for a free initial consultation to discuss the opportunities available.
The first step in achieving your goals is to discuss your current concerns with one of our qualified Financial Planners.
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