Care costs have become a major issue for any people in the older generation, and while governments toy with the possibility of fixing the funding for it, those liable for care are faced with big bills.
But the constant battle is how to pay for it. Many who have been prudent with their finances feel aggrieved that assets they were hoping to pass on to their offspring will now have to go towards paying for care; there is a very low bar for when care costs that can come to £1,000 a week start to kick in.
However, it is possible to put some planning place, and financial advisers can steer their clients so that a positive outcome results.
This article aims to spell out what the costs are and how financial advisers can mitigate them.
It is worth 30 minutes' CPD.
