Having worked hard all your life, you would like to think you would have saved up enough to pass something on to your family - but Care fees can take all, if not a large chunk of that!

For Buckinghamshire residents, Care planning is something that should never be overlooked. If they have assets above the current threshold of £22,250, and they live in Buckinghamshire, they would be expected to fund the total costs for Care. By changing the way in which they own the property they can ensure they pass it on to their family. The majority of couples don't understand that it’s possible to safeguard their Buckinghamshire family home by considering Care Planning.

Buckinghamshire County Council are liable for the county’s funding Care. It is possible that Care planning legislation may change in the future, therefore it is very important to consider Care planning as early as possible.

Care planning can help people living in Buckinghamshire. However, if a surviving spouse or partner lives there, homes in Buckinghamshire will be postponed provisionally in assessing affordability for Care planning. This rule is also applicable to any relatives who live in the same property, aged 60 years or over.

It is also worth noting that a person living in Buckinghamshire is purely responsible for providing their own costs for Care planning and not the costs for their partner/spouse.

If you have liquid assets i.e. cash, Buckinghamshire County Council will place a charge on your home or force its sale. But it doesn’t have to be like this.

Care planning will involve severance of tenancy of any property held in Buckinghamshire. Irrespective of Care planning considerations severance of tenancy is definitely the best way to direct assets for your beneficiaries and any property in Buckinghamshire should be held in this way so that each person’s share is directed via a Will into Trust for the couple’s beneficiaries.

To ensure the home remains in the family for generations to come, the key consideration for Care planning should be made when making your Wills. It is definitely worth thinking about the fact that dependents are left with huge problems should you die without a Will.

When looking for a financial adviser in Buckinghamshire, who can set up the appropriate Care planning, try to obtain a personal reference from a satisfied client. You’ll find this invaluable. You’ll also find there are many suitable financial advisers in North West London, Hertfordshire or Middlesex too.

What will happen about paying for Care for a son or a daughter living with their parents in Buckinghamshire, and both parents need to go into Care?

If the property belongs entirely to the parents, to recoup the cost of Care when it’s sold, Buckinghamshire County Council can take a charge against the property and all liquid assets such as Cash, Stocks and Shares, Bank and Building Society accounts, PEPS, ISAs, etc, in addition to all other revenue, will be assessed to pay for Care in Buckinghamshire.

Vigilant Care planning in Buckinghamshire, not just Buckinghamshire, but in neighbouring counties/areas like Hertfordshire, North West London or Middlesex can help safeguard these assets for future generations.

Care Planning is not regulated by the Financial Services Authority and is available on a referral basis through a preferred specialist supplier of Frog Financial Management and not First Complete Ltd. Frog Financial Management is not responsible for the advice given.