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Personal

Long-Term Care Planning

Planning ahead for the possibility of needing future long-term care is prudent. Not only does it reduce the risk of a shortfall in funds - requiring care also has an impact on how your wealth is passed on to future generations.

Kirk Rice’s long-term care specialists will discuss the type of care you want and then calculate the likely cost. They will also be able to assess the likelihood of you being able to fund the care you need. If a shortfall is identified they’ll devise a strategy to work towards addressing it.

Our experience makes us well placed to recommend the best products. Some investment vehicles are not efficient in long-term care planning, for example. And unlike other future considerations like death and inheritance benefits, your long-term care needs are unknown. This makes it important to really understand your options.

A no-obligation planning meeting

We provide you with an initial consultation – at no cost and no obligation – with a qualified Long-Term Care Adviser. As everybody’s circumstances differ, this gives us an opportunity to talk about how we can help you specifically.

We can review your situation with a full analysis of your current provisions (if any exist). Our adviser will help you calculate the viability of funding care over the long-term, plus the likelihood of being able to pass your wealth to future generations. We can also help you establish your estate planning wishes. (There are rules designed to stop those needing care giving away their assets to beneficiaries, for example.) Researching the right products – with the help of our team of paraplanners – then allows our advisers to put an appropriate strategy in place for you.

Our investment team is not restricted to specific products. This is because we are truly independent and able to research the whole of the market on your behalf. We certainly consider all sorts of investment products, as well as the use of trusts (often a good solution to protect your estate).

Tax planning plays a big part in our recommendations too. We work closely with Kirk Rice’s tax specialists, so we are up to date with the best ways to minimise your tax liabilities on any investment income or gain.

Finally, our service can be extended to include regular reviews. This ensures that your cover stays appropriate for any tax or regulatory changes – and that your investments are monitored in relation to risk, performance and the likelihood of achieving your long-term care objectives.


 

Kirk Rice LLP is authorised and regulated by the Financial Conduct Authority (www.fca.org.uk/register). FCA Registration No: 531538.

Kirk Rice LLP is a limited liability partnership registered in England & Wales (Registered Number: OC354936) and having its registered office at The Courtyard, High Street, Ascot, Berkshire, SL5 7HP.

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