Care Fees Planning

Russell Hall, Chartered Financial Planner

We recognise that the process of dealing with an elderly relative in need of care can be difficult both from an emotional and practical point of view. We also recognise that care can be provided in a number of different ways, whether this takes place at home (referred to as domiciliary care) or in a nursing home or residential home.

If care is required then Attendance Allowance is likely to become payable, subject to an appropriate application being made and the eligibility criteria being met. This will help reduce the cost of care for self-funders (broadly those with capital in excess of £23,250). If nursing care is provided, the Registered Nursing Care Contribution should also become payable (the nursing home would make the application on the residents behalf) which in-turn could also help to reduce the cost of care.

There are many options to help fund the cost of care such as:

  • NHS Continuing Care – for those that are eligible
  • Local Authority Funding – for those that are eligible
  • Deferred Payment Plans – for those that are eligible
  • Care Fees Annuities
  • Personalised Investment Strategies

Absolute Sense provide specialist independent care fees planning advice to those in need of care and their families with the aim of navigating the often complex array of Long Term Care solutions to enable the most appropriate financial outcome to be achieved.

There is no ‘one size fits all’ financial solution and as such we work closely with the family and / or Power of Attorney to enable the most appropriate care funding solution to be effected.

We not only have an adviser with the appropriate specialist qualifications to practice in this area but also have one adviser who is an accredited member of the Society of Later Life Advisers (SOLLA). Being an accredited member of SOLLA is arguably the gold standard for the provision of Care Fees Planning advice.

SOLLABackground to SOLLA (Society of Later Life Advisers)

SOLLA was founded in 2008 as a not for profit organisation, to meet the needs of consumers, advisers and those who provide financial products and services to the later life market. Its aim is to ensure that consumers are better informed about the financial issues of later life and can find an Accredited Adviser. Further information regarding SOLLA’s aims and objectives can be found at

Later Life Advisers specialise in understanding the financial needs of older people. Professional qualifications whilst essential rarely give a full picture of an adviser expertise. Those advisers who have taken the further steps to become independently accredited can offer the added reassurance that they offer the practical help and guidance needed to help you make the right decisions at the right time.