Long Term Care

At Group Rapport, we believe that foresight and careful planning are preferable. Sadly, however, nobody has the ability to accurately predict the future. What is certain is that on average, we are living longer and, as a result, more of us are likely to need some degree of nursing care at some time in the future. When, for how long and at what level… nobody knows.

Decisions about long term care for our loved ones are based on emotional, logistical and financial considerations. It’s a sensitive subject to broach and the decisions about residing in long term care settings are often difficult to make. The primary consideration is that they receive the best quality of care available, ensuring a happy, comfortable and dignified future.

At Group Rapport, we recognise that no two families are the same, our aim is to provide you with tailored, expert advice on the best way of planning for and providing long term nursing care for loved ones.

While it is not a subject people like to discuss, the reality is that in future, many people may become responsible for their parents’ well being in old age, and don’t want to leave it too late to decide who would look after your affairs if you ever became incapable of doing so. Most people have to foot the bill themselves or with help from their family.

Ideally the planning for long term care needs takes place long before the provision becomes a requirement. An honest and realistic evaluation of both the current situation and how it may change in the short or long term will help everyone arrive at the best mutual decision. Often, however, such decision making is forced upon us when a loved one becomes ill or unable to cope. Snap judgments at times of emotional stress often lead to ill considered decisions.

Whether you are planning for the future or have an immediate long term care need, professional financial planning is vital in order to provide the best care whilst preserving as much capital as possible. By talking to Group Rapport, you can find out how to be sure that the quality of care will be guaranteed for life and the highest possible balance of assets will be available to leave to beneficiaries.

Every family looking into funding long term care has different requirements. Different in terms of levels of care, age, assets, expectations and many other factors.

Group Rapport’s specialists are dedicated to finding the right funding solution for you, whatever your situation. We’ll discuss all the options open to you, help you to consider the best route forward and help you minimise the impact of care fees.

Our initial advice is free and you are under no obligation. It is impartial and will help you to consider all the options available to you with the emphasis on providing support and information to help you make the right decision. In a time that can be challenging, we’ll help provide you with the reassurance you need that you can meet the costs of long term care in the best possible way be recommending the most efficient solution as regards income, entitlement to state benefits and protection of the estate for the ultimate beneficiaries.


 

There is no such thing as a ‘typical client’, but here is a recent funding scenario:

Mr Lambert, aged 82, went into a care home when his wife died as he was unable to look after himself. He was concerned about inheritance tax and wanted to preserve his estate but also ensure that he would not become a financial burden to his family. He had already sold his home and invested the proceeds in a building society account, but they were earning little interest and as he was a higher rate tax payer, this was subject to high tax.

We bought an income which was paid to the care home free of tax; we set up an investment bond that could be used for emergency funds and also top up the income purchased if his care cost went up. The balance of the funds was invested into a scheme that would be free of inheritance tax after two years.