Chestnut Financial Services

Chestnut Financial Services, Financial Advisers

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Independent Financial Advisers

Solving Problems For Our Clients

Chestnut Financial Services, Financial Advisers
The care system - advice from Ian Francis, Independent Financial Adviser
The care system - advice from Ian Francis, Independent Financial Adviser

Are you confused about the care system?

The responsibility for ensuring that anyone with a care need receives appropriate care and support in an appropriate setting lies with either your Local Authority if your need is primarily a “Social Need”, or partly or wholly with the NHS if you have a “Health Need”.

Regardless of how much income or capital you have, your Local Authority and the NHS should assist in signposting you to sources of information and assistance.

We know for many their experience of the "care system" comes just at a time of greatest stress and emotions.

Most do not know what the care system is, are shocked by the red tape, the maze of choices, and the costs involved.

We know from our experience that it's hard to find the right person to talk to, at the right time, to make sure that no unnecessary care fees are being paid.

We have been there as a family, so we know how it feels to be stuck in the care maze.

The Basics of Care Fees Planning

Most people faced with a need for care and support in later life and their families are concerned about the potential cost and what might happen if their savings run out. People worry about protecting the house, looking after a spouse or partner, or leaving an inheritance for children.

If you have been told you need to meet long-term care costs yourself, or if you are arranging care for a friend or relative, you may not know where to start. It can be difficult to find clear guidance on your options, or on the state funding and benefits which may be available to you, particularly if you have intense or complex medical needs.

We specialise in advising people in later life, their families and Attorneys or Deputies acting on their behalf, about the best way to plan for and meet the costs of care.

Our Regulator, The Financial Conduct Authority, requires financial advisers who are active in this field to hold specialist qualifications over and above those that are normally required to give financial advice. We hold all of those and more.

We also have extensive personal experience, having supported family and friends who have developed significant care needs in later life. We know how difficult it can be to find your way through the system and how determined you need to be. We are able to inform you about your rights and your options and we have a network of professional contacts who can provide further specialist advice and support as and when you need it.

We answer your questions about paying care fees

No matter how seemingly silly or difficult, our aim is to answer your questions and give you confidence about care fees.

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

For example:

  • What help should I be getting from the NHS or Local Authority to pay for care fees?
  • How do I complete the Local Authority financial assessment questionnaire?
  • What are the different ways to pay for care?
  • What if I can't afford care home fees - now or in the future?
  • How do I appeal NHS continuing healthcare (CHC) decisions?
  • Do I have to sell my house to pay for care?
  • What can I do as an Attorney with investments and property?

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.

What help is available for dementia patients?

A significant amount of social care is delivered to sick and disabled people, whereas the NHS element of their care is 'free' in most circumstances.

This is not so for older people, where, for example, dementia is perceived as a consequence of living to old age - so it is not viewed as a health issue and "treated" as 'social care', so has to be paid for by the user.

So, in many cases, the only source of financial help from the Local Authority is when the condition has become severe, provided your loved one qualifies for any contribution to care fees.

The care system advice Photo of Ian Francis2
What's the big news on reforming how we pay for care from next year?

In September 2021 the Government trumpeted a new policy on reform for health and social care - more precisely reforming how we are expected to pay for our own care - and the changes to Government funding in the meantime. What does the news mean for everyday people needing good quality advice?

Specialists in the care system

For many, the care system is complex and confusing, and it is a maze of red tape.

All too often we find "the system" has let our clients down - there are lots of possible parties that should help you along the "care journey", but knowing who to approach, when, why, how, and picking through the reams of paperwork or correspondence you need to get heard - is overwhelming.

You might be looking for help to explain who is responsible for providing and funding care, when and how much.

Or, if you are a self-funder, you might be looking for advice on paying for care fees.

Or you might want help to;

  • explain how NHS Continuing Healthcare works and review decisions, or
  • review Local Authority Care Needs Assessments and Financial Assessments.

We are regularly asked to help with NHS appeals and Local Authority financial assessment questionnaire filling, which could lead to you getting a refund if you have suffered an incorrect charge for care services.

We advise on suitable investments and the role of Attorneys and Deputies.

So, if you have any questions, simply pick up the phone or drop us an email.

We want you to get the help you need and are entitled to, so your loved ones are treated with dignity and respect.

We will be delighted to hear from you.

SOLLA Accredited Adviser Logo
What it means to be SOLLA accredited

As a financial planner accredited by SOLLA (the Society of Later Life Advisers), I know that the transition to elder care happens more smoothly and is often more aligned to the expectations of the individual and their family when plans are made in advance. This includes advanced planning around finances.

It’s often a surprise to people that later-life financial planning is a specialist area within the wider field of financial advice, but it is!

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.

This means you can work with an expert in funding care (whether for a care home or in-home care) and other later life financial matters – ensuring that money is one less thing to worry about when arranging for your own short or long-term care, or that of a parent.

We have been advising clients on long-term care, Lasting Powers of Attorney, Will writing and retirement 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.

Our team led by Ian Francis Independent Financial Adviser
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.

What Our Clients Have Said Logo
What our clients have said

"Ian couldn't have done anything better. Everything about Ian's work was tailored to what we needed. The service provided was excellent.

We had many questions and Ian took time to answer them, checking that we understood each part of our 'happy financial future'.

Ian's knowledge was excellent. He was so professional and trustworthy".

Sheila, Yorkshire

Contact Us

Chestnut Financial Services Limited

2a Sadler Court, Lincoln, LN6 3RG

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We are proud supporters of the

Lincolnshire Police Federation

Important Information

Please note, that not all care fees advice is regulated by the Financial Conduct Authority

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.