Below is a link to a series of articles written to help you understand a bit about the care system and the options available to fund care.
Future Thinking – Care Planning
Part 1 – The care system in the UK
Part 3b – Paying for care continued
Part 4 – State support and the NHS
This is all well and good but how do you know you are being advised properly and by people that understand the care system themselves! Well, here’s how:-
Society of Later Life Advisers (SOLLA)
Craven Street Wealth have two advisers accredited with SOLLA.
Sounds encouraging but who and what are SOLLA I hear you ask…
SOLLA is a consumer facing, trusted brand whose aim is to ensure that consumers can access the highest quality of advice when planning for later life.
They are a not for profit, independent, highly regarded, and long-established organisation, recognised by Government bodies and other trusted consumer organisations such as ‘Which’ and Age UK.
They are the Gold Standard for later life advice.
SOLLA accredited advisers
SOLLA accredited advisers must achieve SOLLA’s Gold Standard Later Life Adviser Accreditation and adhere to a Code of Practice that puts the client’s needs at the heart of all that they do.
They must relicense annually and retake their Accreditation every 5 years.
They ensure you have peace of mind knowing that you have made the right financial choices to secure your future needs.
They advise on:
- Retirement planning – pensions and annuities
- Equity release and other property options
- Tax matters, inheritance & wealth planning
- Funding for care home fees
- Funding for care at home fees
- Savings and investments
In summary:-
Paying for care fees is something you or your loved ones may have to do. There is a lot of information out there that can help you understand the care system and your funding options but researching it can take time and be a challenge in itself. The Local Authority may provide support but not for everyone and there is no ‘one size fits all’ solution.
The need for SOLLA Accredited advice is of paramount importance.
I hope you find the articles helpful and of interest but do please get in touch with us to discuss matters further.
For an initial discussion around either your own, or someone else’s long-term care requirements please contact us on 0330 320 9280 email info@cravenstreeetwealth.com or complete our online enquiry.
The content of this article is for information only and does not constitute formal financial advice. This material is for general information only and does not constitute investment, tax, legal or other forms of advice.
You should not rely on this information to make, or refrain from making any decisions. Always obtain independent, professional advice for your own particular situation.
Craven Street Financial Planning Limited is authorised and regulated by the Financial Conduct Authority.
Production
