Unfortunately, one of life’s inevitabilities is that as we grow older our health starts to deteriorate and our reliance on support for our care needs increase. Sadly, every year over 50,000 elderly people are forced to sell their homes to fund their care. There are few options available to the growing number of the older generation, who need to pay care home fees.

 

For those thinking of selling their home to fund the costs of their care, they may want to reconsider.

The recent Government announcement to cap care costs in England will not be implemented until at least October 2023, and realistically may not be the solution for the vast majority of those seeking ways to finance their care home fees today or in the future.

There is a modern way to pay for care.

Leasing your home to a company is a new solution, where they become legally obliged to pay an agreed contribution towards your chosen care home costs, directly to the care home operator. The great thing is that you still own the property and all future increases in its value, allowing you to retain ownership within your family.

Charity owned; Shaw Lifetime Care (SLC) are currently the only providers of this solution. The Care and Home Inheritance Plan “CHIP®” could help fund your care for as long as you require without the need to sell your home. Dr Neslyn Watson-Druee (CBE), a Trustee of The Shaw Foundation (TSF), the charity which developed this solution was recently quoted as saying “we believe that no one should be forced to sell their home to pay for care. We have spent many years developing this solution which we hope will help growing numbers of families across England and Wales from selling their home to pay for care”. The solution is available to all who meet the criteria and is not subject to any medical assessments. Each CHIP is personalised, depending on our clients’ circumstances. 

If you or your family require help with care funding, our care advice partner My Care My Home offer a free impartial information and advice service informing you of all your options, including the CHIP®. Their customer care team are available through on-line chat or by calling them on freephone: 0800 731 8470.

Curious to find out more?

Why not call us today to find out how we can help you with this innovative solution:

Shaw Lifetime Care: 02921 510150 or visit our website: www.shawlifetimecare.co.uk

This advertorial is sponsored by Beacon Organisational Development Ltd