In general it is recommended that individuals and often the wider family are involved in considering in advance this third age in their life. They should openly address the undoubted financial issues surrounding the change.
Many Independent Financial Advisors will offer guidance in this matter; all that is recommended is that they are registered with the Personal Investment Authority (PIA). The sooner the matter is considered the wider the financial options that exist. Even if the decision to consider the financial implication are left close to the time when care support is needed it is recommended that an approach to professional advisors is sought before embarking on the road of a full Social Work Assessment. By then certain options might have been limited in terms of financial options.
As well as the IFA's clients might wish to approach a body like the Nursing Home Fees Agency to seek legal, financial and independent care advice.
Increasingly this is also an area where the legal profession can provide valuable input in terms of how the person's estate might be best handled. Your family solicitor should be able to help or point you to legal experts.
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