Mounting care home fee could wipe out wills

The Law Society have warned this week that increasing care home fees could mean elderly people have nothing to leave in their wills.

This warning follows a recent 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. Many wills could need reviewing as care residents’ assets continue to deplete. It is important to seek legal advice before it is too late.

Sue Cash, head of the private client department at leading local firm Ridley & Hall 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. People who are worried about care costs should contact us for advice, so that we 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.