Nursing Home Fees

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Paying Nursing Home Fees - Simon's Story

In this blog, we look at how, when a client approached me for advice, we solved the well-known problem of how to pay for nursing home fees.

Paying Nursing Home Fees Photo of Ian Francis

Meeting Simon’s Residential and Nursing Care Home Costs

Sarah is Simon's daughter.

She acts as attorney for him under a Lasting Power of Attorney registered with the Office of the Public Guardian.

Unfortunately, Simon is widowed and suffering from dementia.

Simon was living with Sarah until he recently moved into residential nursing care.

When it came to paying for residential care, despite Simon’s total income (from his pensions and benefits) of £30,000 a year, there was still a shortfall of £20,000 a year.

Simon did have savings and investments but wanted to leave these for all his family to inherit as much as possible.

Sarah’s priority was that her father wouldn’t run out of money and could continue to self-fund care for the rest of his lifetime.

She was looking for a risk-averse, guaranteed method of meeting the care home fees.

What We Advised On

Having got to know Simon and Sarah in our meetings, we ran through the possible options for funding the care, including any potential help from the NHS, the local authority, and any other sources.

We obtained an indicative quote from a leading care annuity provider for Sarah and Simon to understand their options better.

Having understood the potential cost of an immediate care annuity and compared that to the other options being discussed, Sarah asked for fully medically underwritten quotes, to really firm up her choices.

We documented the choices and costs in a Care Fees Planning Report, including a recommendation for an immediate needs annuity at a cost of £91,000 - well within Simon's savings and investments.

As the immediate needs annuity pays a guaranteed income for life and is paid tax-free as it was being paid directly to a registered care provider, it brought much-needed reassurance for Sarah and Simon.

Why This Was The Right Option For Simon

Sarah and Simon gained peace of mind and certainty that the care home fees could be met.

There was also a comfortable nest egg in other assets if the care home increased its fees in the future.

We never know how long we will be dependent on care homes, or whether their costs will rise each year substantially, or whether our personal care needs will increase (and therefore the extra cost of those extra needs).

It’s always important to recognise that the decision of whether to accept my advice was for Sarah and Simon, with no pressure from myself.

However, they were keen to resolve the funding problem and appreciated the opportunity to ask whatever questions they had and get open and honest answers.

Paying Nursing Home Fees 2nd Photo of Ian Francis

Our Experience

Getting expert professional advice from an experienced and well qualified financial adviser will help build your confidence that the NHS and Local Authority are being fair for you.

Then we can give any help you need to plan and pay for self-funding obligations.

So, contact us today:

📞  01522 788887 or


Our Difference

We use our experience and expertise to guide and advise our clients, solving their problems and achieving their ambitions.

We offer advice across all the financial areas you’d expect, as well as specialising in advising clients with "later life" care needs.

Our real focus is simple - you!

We want to support you as your family grows and look ahead to your happy financial future whilst you do the things you want to achieve.

It’s not just about “looking after your money”, it’s about protecting your family, it’s about simplifying your financial journey and helping you create a happy financial life.

All the answers you need in one place.

So, contact us today:

📞  01522 788887 or


What It Means To Be SOLLA Accredited

We have been advising clients on long term care solutions for several years now, backed up not just by professional qualifications but also by the membership of various professional bodies, most notably the Society of Later Life Advisers (SOLLA) and the Personal Finance Society, so we specialise professionally in care fees all the time.

We are proud that Ian Francis is an Accredited adviser with SOLLA. Clients requiring financial planning in their later life benefit from advice that is clear and concise. Such advice comes from an adviser that is suitably qualified and experienced to advise them and manage their financial planning.

What's On Your Mind? Let's Talk...

We offer a free, no-obligation, initial telephone consultation for new clients to answer some initial questions and help you with some first steps.

After that, we will then ask if you would like to set aside more time at a good time of day for you, when we can meet in person, on video, or by phone, whichever is most convenient for you.

If you would like to use our services after our initial telephone call then we charge an hourly fee of £150, including travel time. We can also agree on a fixed fee depending on what you need.

So, contact us today:

📞  01522 788887 or


Important Information

Care fee plans do not guarantee to cover the full costs of the client’s care, care costs are subject to inflation and care needs may increase.

If the cost of care exceeds the income from the plan you will be responsible for paying the difference yourself.

Plans cannot be cancelled or cashed in at any time after the first 30 days.

If the income is paid directly to a registered care provider, the plan benefits from a favourable tax treatment.

Should this tax treatment be changed by HMRC or income be paid to a party other than a registered care provider, some of the income may be subject to tax.

Please note not all care fee advice is regulated by the Financial Conduct Authority.

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The guidance and/or advice contained within this website is subject to the UK regulatory regime. It is therefore targeted at consumers based in the UK. Chestnut Financial Services Limited. Registered in England no 9918363, 2a Sadler Court, Lincoln, LN6 3RG. Authorised and regulated by the Financial Conduct Authority.