Cumbrian coterie converges to consider clients' care and cash-flow conundrum
In October 2013 I was considering the topics for the 2014 Lancashire & Cumbria branch meetings, writes branch chairman Paul Jones CFPCM.
As the Care Bill based on the Commission regarding Funding Care and Support, chaired by Andrew Dilnot, was scheduled to be on statute books by April, I decided to allocate the whole of our May meeting to long term care
funding. While we may associate funding for care and support with those in later life we all know that incapacity can affect all ages, and as Financial Planners we should ensure we have up-to-date knowledge of the subject; while the funding of care fees may not be required by everyone, it should certainly be modelled in every client's financial cashflow.
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Partnership's Graham Duffy gave an engaging presentation on the provisions of the Care Bill and how it may affect our clients. After a break, Graham then provided an excellent session considering how local authorities will make assessments going forward, care costs and the various strategies and pitfalls to funding care fees. Judging by the excellent feedback this was one of the best and most useful sessions we have had as a branch.