Every year tens of thousands of people are forced to sell their home to pay for residential care because they are no longer able to live independently. Many thousands more are unable to pass their home on to their children because the Local Authority has taken a charge over it to be paid on their death.
How much of your estate are you prepared to lose?
With the threshold for state support set at just £14,250, almost everything you have is at risk. Anyone that owns their home, or has more than a minimum amount of savings faces the prospect that practically everything they have worked for could be taken away from them if they are unable to care for themselves in later life. Half of men and a third of women require some form long term careISAs, Premium Bonds, Bank and Building Society Accounts, Shares, National Savings, OEICS and similar savings and investments are all at risk.