Care Fees Planning with WBW Charted Financial Planners
- Care Fees Planning Specialists
- Free Initial Consultation
- Specialised Knowledge and Support
Care Fees Planning
What is Care Fees Planning?
When you require care and you have assets above a certain amount, you will need to pay for the care yourself. For most people, this will mean that they will be spending more than their income and will need to use their capital to fund the shortfall. Care planning involves preparing financially for this cost whether at home or in a care home.
How Does It Work?
When care is required, there are three main ways that it is funded:
• Via the local authority – Whether this is available depends on your assets and savings.
• Via the NHS – Whether this is available depends on your health.
• Paid for yourself – This is the default option if the other options are not available.
If you are required to pay for care yourself, this can be done through one of six options:
• Renting out your home – Where an income is generated to help meet the cost of care.
• Deferred Payment Agreement –Where the local authority will pay for the cost of care via securing a debt on your home.
• Equity Release – Where money is released via a lifetime mortgage on your home to pay for care.
• Cash – Where the cost of care is met by drawing down from bank accounts.
• Investments – Where assets are invested in stocks and shares to generate long term growth to pay for care.
• Care Fees Plan (annuity) – Where a guaranteed income to meet the cost of care is paid for the rest of your life in exchange for an initial lump sum
Why Do You Need a Financial Planner?
Navigating the funding options available can be complex. An expert financial planner can help you make the right choices. At WBW Chartered Financial Planners, we offer:
• Guidance on navigating funding options available
• Guidance on NHS Continuing Healthcare funding and local authority means testing
• Advice on how to protect your assets for your beneficiaries
• Planning strategies for immediate care needs or future care provisions
Our team provides professional, regulated advice. We will consider all options to pay for care including care annuities, equity release, investments and cash to help you make the right choices.
Our Care Fees Planning Services
Ensure care fees can be met for the rest of your life:
We help you and your family to create a strategy to meet your care costs for the rest of your life to give you peace of mind.
Help you claim additional entitlements:
The rules around funding care can be complex. We will help you to understand what additional funding you may be entitled to and how to claim it. We will explore what financial assistance may be available from the government and local authority funding to self-funding care.
Self-funding Care:
If you do not qualify for local authority funding, we will help you explore all available self-funding options. We offer advice on using savings, investments, and property equity to cover the costs of care.
Protect inheritance for beneficiaries:
We create strategies that can help to protect and grow your assets so that your beneficiaries receive an inheritance.
Exceptional Service, Reliable Expertise
Planning for Care Fees can seem daunting. However, we have decades of experience in helping people plan for the cost of care, our team at WBW Chartered Financial Planners has the expertise to guide you through the process, step by step, as planning for retirement can seem daunting. We offer appointments face-to-face at home, at one of our 13 offices, or remotely.
About Us
What we do
At WBW Chartered Financial Planners, we provide compassionate and thorough advice to help you prepare for care costs. Our specialist advisers are accredited by both the Society of Later Life Advisers and the Society of Trust and Estate Practitioners.
We work closely with our colleagues at WBW Solicitors to ensure that you get a complete service.
Where we are based
We have 13 offices across the Southwest, ensuring we are accessible wherever you are in Devon, Cornwall and Somerset. Our team is ready to assist you, whether in person or remotely.
Contact us to discuss your case
Take the first step towards securing your financial future with a Free Initial Discussion. The fees for our work are fixed and agreed at outset to manage conflicts of interest. This means that we can genuinely consider the right approach for you.
Contact us today for a free initial discussion.
Why Plan with WBW Chartered Financial Planners?
Specialist Knowledge
- You’re not just a number but a valued client with WBW.
- We have specialist advisers who are accredited by both the Society of Later Life Advisers and the Society of Trust and Estate Practitioners.
- We will always explain your options in plain English and we pride ourselves on the sensitive and personal approach that we bring to later-life wealth management.
Free Initial Discussion
- We take the time to understand your goals and explain how we can help.
- We are pleased to offer any prospective client an exploratory discussion without charge.
- The fees for our work are fixed and agreed at outset to manage conflicts of interest. This means that we can genuinely consider the right approach for you.
Comprehensive Support Services
- Bespoke financial plans to maximise your inheritance.
- Unlike other firms, we prioritise personalised service, transparency, and long-term relationships.
- Navigate the complexities of care fees planning to ensure peace of mind in later life.
Our Team
Chris Hill
Director – WBW Chartered Financial Planner
Chris started his career in financial services in 2007 with Hargreaves Lansdown in Bristol before moving to Devon in 2012. Chris is one of few advisers qualified and practising as a Chartered Financial Planner, Certified Financial Planner and Trust and Estate Practitioner, giving him a large remit of expertise.
Ian Avery
Chartered Financial Planner – WBW Chartered Financial Planner
Ian has three decades’ experience of corporate pension schemes, executive arrangements, personal plans and pension transfers is invaluable. Ian has established strong, lasting relationships with clients and their families, providing financial guidance and education through the generations.
Matthew Dixey
Financial Planner – WBW Chartered Financial Planner
Matthew has worked in financial services for over 12 years, gaining a wealth of experience in the industry.
He can provide advice in a range of areas including:
- General Practitioner
- Tax Efficient Investing
- Retirement Planning & At Retirement
- Business Owners & Professionals
Client Success Stories
John & Alice W, Torbay
“WBW gave us peace of mind, helping us manage my father’s care home fees while protecting his estate. We’re incredibly grateful for their clear and compassionate advice.”
David C, Exeter
“The WBW team helped us navigate the confusing care system and found us options we didn’t know were available. Their advice made all the difference.”
Arrange a no obligation appointment
Don’t leave care fees planning until it’s too late. We offer a no-obligation consultation to assess your needs. Book yours today to take the first step towards securing your future.
Call now on 01626 242500
or fill in the contact form and a member of our expert friendly team will call you back.
- Care Fees Planning Specialists
- Free Initial Consultation
- The fees for our work are fixed and agreed at outset
Get Your Free Initial Consultation
Get the advice and assistance you deserve.
What Our Clients Say
Chris Hill was very patient with us in explaining details that were no doubt simple to him but complex to us.
The information contained within this article is for guidance only and does not constitute advice which should be sought before taking any action or inaction. The information is based on our understanding of legislation, whether proposed or in force, and market practice at the time of writing. Levels, bases and reliefs from taxation may be subject to change.
The Financial Conduct Authority does not regulate taxation advice, estate planning, inheritance tax planning, wills or trusts.
