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Advice on how to fund your future care needs

24th February 2013 Help & Advice, Nottingham County Council Tags: , 0 Comments

NOTTINGHAMSHIRE residents who are considering moving into a care home are being offered independent advice on how best to fund their possible future care needs.

Recent research from Mintel indicates that more than a third of people aged 75 or older have not even discussed how they will pay long-term care if they need it in old age.

Currently only five percent of people seek advice before going into care. For many this is going to be one of the most important financial decisions of their lives and therefore it is vital that they make an informed decision.

Nottinghamshire County Council is working with a not-for-profit organisation, PayingForCare, to provide people who are responsible for paying for their own care costs with valuable information about long-term care.

PayingForCare can put people in touch with specialist care fees advisers who can inform them about the various ways to pay for care for as long as required.

The advice on offer can help people explore ways to preserve their money and help them stay in the care home of their choice for as long as they need care.

Since September, 171 local people have sought specialist information and advice from PayingForCare.

Coun Kevin Rostance, Chairman of Nottinghamshire County Council’s Adult Social Care and Health Committee, said: “We would strongly advise anyone who is thinking of going into a care home, or is looking for a family member, to get in touch with PayingForCare or another fee adviser who specialises in care fees planning .

“By getting sound independent specialist information and advice, we believe that many people can protect their savings and assets for longer and help ensure they leave a legacy for their loved ones.”

The council has also set up a pioneering online database which requires all Nottinghamshire care homes to keep up-to-date details about their residents, including those who fund their own care.

This database allows the county council to guide self-funding residents to the independent advice that is available to help them make the most of their assets and savings.

For more information on PayingForCare call freephone 0808 208 9994.

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