Financial arrangements for moving into care
Do I need to pay for my own care?
Full details of how your contribution is assessed are available at: www.nottinghamshire.gov.uk/adultsocialcare or you can call us on: 0300 500 80 80.
Seeking financial advice on paying for care
Money held on deposit can be depleted very quickly if being used to pay for care; therefore, it would be sensible to consider other forms of investments that could potentially deliver higher income to meet the care home fees.
Before deciding on what may be the most appropriate solution for meeting care costs, it would be sensible to talk to a specialist care fees adviser who has ‘CF8’, the relevant qualification for advising on funding long-term care.
Age UK financial advice service
Age UK offers a free and independent financial advice service for people who are planning their future care costs.
Society of Later Life Advisers (SOLLA)
You can speak to an independent financial adviser who is accredited by the Society of Later Life Advisers (SOLLA). This is a not-for-profit organisation founded in 2008 to assist consumers and their families to find trusted, accredited financial advisers who specialise in the financial needs of older people.
Advisers with the SOLLA accreditation have to demonstrate and prove that they are suitably qualified to provide later life advice.
The Financial Conduct Authority also produces information about funding long-term care and can give you information about individual financial advisers.
You can also find financial advice from the Government’s Money Advice Service.
We have supplied details of some financial advice services for your information only. The information is not exhaustive and there are more financial advisers available in the market. We have not vetted any financial advisers and do not control and are not responsible or liable for them or any advice or services they provide. We do not endorse or make any representations about any financial advisers, or any results or advice that may be obtained from using them. If you decide to use any financial adviser, please ensure that you conduct your own prudent checks.