A ‘Fully funded solution’ to social care proposed
Care home fee exposure and proposed changes to Inheritance Tax thresholds are once again headline news, with the Health Secretary, Jeremy Hunt, talking about a ‘fully funded solution’ to social care in the future.
Proposals are expected to include a £75,000 cap on costs for care and a rise in the means-tested threshold from £23,000 to £123,000, although any changes to the current system are unlikely to be implemented for several years.
Commentators claim there is “an absolutely chronic lack of awareness of how much people have to pay for care, how long they’re going to need it for and what their options are.” This is a view shared by Stone Rowe Brewer – who are experts in advising clients on protecting their family wealth and assets.
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