Care Home Fees - Law Society Press Release

Care Home Fees – The Challenge Ahead

The Law Society has issued a press release warning that mounting care homes fees could mean that elderly people have nothing left to leave in their Wills. They advise that over 20,000 pensioners have had to sell their homes to fund care fees last year – representing an increase of 17% in just 5 years. With people living longer and the finances of the country being the way they are, this problem seems set to get worse.

The recently formed Age UK advise that care home fees average at just under £500 per week. Unless you are fortunate enough to have a fantastic pension, the very real risk is that the savings that you have fought so long to build up and the home that you have so carefully maintained will be swallowed very quickly. 

Much talk was made of changes to the way care fees are funded last year but unless these actually materialise we can only work with the rules as they are. If you want advice on how you can preserve your savings and home, the Law Society has urged that you seek appropriate advice from your local solicitor who will be able to inform you of the options available to you.

It is hoped that the government will rethink the issue of care fees to allow some form of insurance bond to be purchased up front or some other solution to restrict the damage that care home fees can cause and simplify this area.

For more information, call Curtis Parkinson Solicitors of Nottingham on (0115) 9647763.