Care Fees
1 in 3 people over the age of 65 currently require care the cost of which can be astronomical.
Legislation has often been uncertain and appears to be constantly under review. In a similar way to Inheritance Tax Planning such uncertainty manifests itself in a lack of action and planning.
These two issues, Care Fees and Inheritance Tax planning should be considered in an integrated approach rather than in isolation.
It is possible to purchase immediate care annuity’s to help meet the cost of care but these are only suitable in certain situations.
Prefunded care plans are also available whereby an insurance is taken out whilst a person is healthy and in advance of any care being required. Such plans have increased in cost significantly in recent years.
Tactical Planning
Summary of emergency budget changes
Jun
24
2010
A brief overview of the main changes that are likely to affect clients.... Read more
May
27
2010
Figures announced last week measuring inflation stated that we are experiencing the biggest rise in the cost of living since... Read more
Apr
22
2010
Transfer assets to your spouse to maximise the personal allowance for income tax and capital gains tax (£10,100) purposes. ... Read more
Make the most of the increase in the ISA allowance
Apr
22
2010
The new ISA limit, as from the 6th of April 2010 is £10,200 per year and will now increase in... Read more