Families considering a care home 'must seek financial advice'

Families considering a care home 'must seek financial advice'

Those considering moving a loved one into a care home so they can receive 24-hour support have been urged to seek financial advice.

Many people overlook the cost of care homes at the earliest stage in this process, despite it being one of the more important aspects to consider.

Speaking to the FT adviser, partner and financial adviser Wealthcare, Tim Anstee, explained: "This is a very specialised area of advice and the market is massively under-advised.

"And partly it is because people do not know where to find advice. It is hugely important that people get professional advice."

Getting a GP to arrange a health care assessment is another important aspect of choosing the right care home for a loved one.

This may also provide families with insight into which care options are best suited to their loved one's needs.

Financial advisers may also be able to offer insight into alternative care options, in addition to funding arrangements.

Find the nearest Barchester care home.