Get independent financial advice
Use our form to check if you need to pay for your care using your savings and investments.
Check if you need to pay for a care home
As you get older is is important to think about planning for later life, including any care and support you may need and how you might pay for this.
Because long-term care costs range from £55,400 to £286,000, you should seek independent advice. You will want to reduce the likelihood of your money running out which could mean moving to a cheaper home which may not be your choice.
Contact Social Care to discuss the options for paying your care home fees. Your financial adviser will be able to talk you through them.
Options can include
- keeping your house and paying your care home fees from your income, savings and investments
- renting your house to generate income
- selling your house and investing the money to generate an income
It is particularly important that you seek advice about any property that you own in joint names with someone other than a spouse or partner. Also it can become very complicated if you have sold a house and spent money on a family member's home for you to live in.
You should ensure that your financial affairs are in order and you have made a will.
Further help
- Learn about paying for residential care and advice on paying for care on the Age Scotland website.