Living in residential care can cost between £600 to £800 per week and the cost of living in a nursing home can range from £800 to £1,300 per week (the costs depend upon where you live in the UK).
Why are nursing homes more expensive than residential care homes?
Nursing homes provide residential accommodation as well as specialist care to accommodate people with specific conditions such as Alzheimer’s or dementia who need specialist care. Residential care homes are for people with low care needs and provide care and support to people who may find it difficult to live independently. The word ‘residential’ means that people treat the setting as their home.
Who pays for nursing or residential care?
Generally, it is you who will pay for your care but this is dependent upon the level of care needed and your assets. If you have over £23,250 of assets (including your house) you will have to pay for your own care which could involve selling your house to pay for your care. If you need to go into care the Local Authority will carry out a financial assessment of your income and assets to determine how much you need to pay towards your care.
How can we help with your care home fees?
With specialist advice, we can help you to plan for potential care home fees in the future. It is important that we look at your estate as a whole so that we can provide you with the most appropriate advice that meets your objectives and suits your circumstances. We can look at the way in which you own your home and structure your Will in such a way that protects inheritance for your loved ones, amongst other specialist plans.
Where do I go from here?
If you are concerned about going into care in the future, about how this will be funded and want to plan ahead, please contact one of our specialist lawyers who can provide you with the guidance and support you need.