Mounting care home fees could wipe out wills says local firm Pinney Talfourd LLP Solicitors
Increasing care home fees could mean elderly people have nothing to leave in their wills.
This warning follows a report that more than 20,000 pensioners had to sell their homes last year to pay for residential care home fees- an increase of 17 percent in the past five years.
Last year's Age Concern/Help the Aged estimates put average care home fees at £470 per week, prompting the Law Society to warn that many wills could need reviewing as care residents' assets continue to deplete, and urge people to seek legal advice before it's too late.
Matthew Edwards, Head of the Private Client Department at Pinney Talfourd LLP Solicitors says
"It does seem very unfair that people who have saved and lived carefully for years can see their assets wiped out because of care home fees, but it does not have to be the case. Many people have ended up in this situation because they have not received legal advice from a solicitor."
"We advise people who are worried to seek advice from their solicitor as they can inform you of what options you have."
The figures are based on research by health care analysts Laing & Buisson and the House of Commons Library.
If you need further information, please do not hesitate to contact our Private Client and Elderly Client Department on 01708 229444.
