While it may not always be apparent how much financial support you will receive when funding long-term care, the impact of providing care tends to only become clear when the time is upon us.
The cost of long-term care can be substantial and given that it is very rare to be given full support, this potential risk needs to be borne in mind when planning your finances. If you are planning on leaving an inheritance for your children or someone else, then the potential cost of long-term care has to be recognised as a threat to that objective.
In far too many cases, there is no consideration given to funding long-term care until a time of crisis when the family already have a lot to worry about. Giving at least some thought to the issue in advance can relieve some of the pressure the family face.
Aside from simply knowing how the costs of care might be met if the time comes, for some, there are steps that can be taken to legitimately reduce the risk of having a significant portion of an estate depleted due to funding expensive care bills.
Whether it’s a case of funding care immediately or considering the implications that the cost of care could have on your estate, Lowes will act in a considerate and sensitive manner to provide advice that will help you solve the issues in the best possible way and give you peace of mind.
When it comes to planning or paying for long-term care, the sooner you act the greater flexibility you provide in terms of leaving yourself and your family with a number of possible solutions to choose from. A Lowes Consultant will be able to help identify the most appropriate course of action.
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