How the social care changes can affect your Will
24th Nov 2021
There is lots of noise in the press at the moment about social care fees and whether a cap will be introduced. The current information we have is that from September 2023 no one in England would pay more than £86,000 in care fees during their lifetime.
Until we know more details there is no guarantee this will be exactly the situation. Previously only some types of care were covered by the cap and others remained the same.
If this issue is on your mind, I think it’s important to do two things:
- Take the opportunity to review your Will.
We often discuss worries and concerns with clients about care home fees. There may be something that can be done to give you peace of mind and reduce the impact on you if you need care.
We offer free Will reviews, and our clients report that they find the reviews informative and helpful raising issues they had not given much thought to previously.
A Will made with a qualified Solicitor is not necessarily as expensive as you may think.
The service includes:
- Personal attention from a qualified Solicitor who will apply their knowledge to your individual circumstances and often ask you to consider things you have never thought of.
- Drafting of the Will to meet your needs and an explanation of any relevant legal issues
- Ensuring the Will is Executed in accordance with the law. Executed basically making sure that the Will is drafted and signed correctly so that when it is needed for Probate it can be presented effectively.
- Storage – we store your Will for free and provide copies as required.
- In addition, like all Solicitors firms we are insured and therefore you are protected by our Professional Indemnity Insurance policy.
Don’t leave it too late. We would strongly recommend ensuring you write a Will to provide for what happens after you’ve gone.
- Get your Lasting Powers of Attorney in place.
If you lose the ability to manage your own finances, then a Lasting Power of attorney allows you to select in advance the person who will help you manage these things.
Whatever the situation you want to have some who is able to access your money safely and use it for your benefit. You need them to be diligent, rigorous and tenacious about ensuring you get the best care when you need it funded in the right way.
Whether this is a family member or a professional it doesn’t really matter as long as someone is on your side and rooting for you.
We are always here to help so please call Philippa, Grace, Luke or Philip on 0161 928 3848 or email mch@mchaleandco.co.uk.
