Many of us find it hard to think about ourselves or our parents needing help as we get older, and when we do start to think about it – perhaps in our 50s or 60s, the cost implications can make us wince.
The high cost of social care can quickly swallow up any inheritance that we planned to pass on to our children or grandchildren. It’s also important to remember that the proposed £86,000 care-fees cap, which the UK government is planning to introduce in England in October 2025, isn’t a silver bullet either. The proposal does increase the lower and upper thresholds for social care funding, but it only caps some care home costs, not all.
However with careful forward planning, you can mitigate the impact that care fees can have on your inheritance.
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