Funding later life and care, whether at home or in a care home, can be complicated, expensive and unpredictable. Finding your way through the maze of options of care for a parent or elderly relative can prove challenging and finding the right advice, solution and result is not always easy. We have lots of help and information here for you from the Age Space Team.
21st February 2019
Funding elderly care and later life can be complex, expensive and unpredictable as needs change. This section includes information about all the care funding options available.
Where care needs are social (assistance with daily living) and individual assets are below £23,250, the local authority will assess which one of three categories your parent may fall into in terms of care.
When you look after a parent with a health condition, who now requires continual care, you may not know where to turn.
Historically, an annuity was bought at the point of retirement with a lump sum saved into a defined contribution pension.
A Deferred payment agreement is an arrangement with the local authority that lets people use the value of their homes to help pay care home costs.