At Enable Independent we help people to plan for each stage of their lives, and one very important aspect of this is Estate Planning, preparing ourselves and our families for the costs we might have to pay if we end up having to receive expensive care in our old age. So new plans to introduce a cap on of £75,00 on long-term care costs funded by the Government is a step in the right direction.
The new plan is set to be introduced in April 2017, will not include accommodation or food costs. As well as the increased cap the government will also increase the asset threshold which people do not receive means-tested help from the Government from £23,250 to £123,000.
The new scheme will be funded partly by extending the freeze on the inheritance tax threshold at £325.00, or up to £650,000 for couples.
These new measures the Government states are proving that despite the tough economic times, that they are determined to get behind the everyone who has worked hard for what they have. However critics argue that the plans do not include people who are already in care, and that it is a scheme for some and not all.
If you are concerned about planning your old age, from investments, pensions and Estate Planning, then why not call one of your Bishop's Stortford Independent financial advisors, and we will help you to create your own tailor made plan to suit you.
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