Lamport Bassitt Solicitors - Legal News - Care home costs 'outstrip pensioners' income'


	LATEST LATEST LEGAL NEWS ARCHIVE		LATEST NEWS & EVENTS Care home costs 'outstrip pensioners' income' A place in a care home can cost twice the average pensioner's income, research by a care agency has revealed, which could also impact the ability of an elderly client to pay for wills and inheritance tax planning. The study, by Prestige Nursing & Care, found that an estimated 20,000 people are forced to sell their homes in order to pay for vital care each year, and a care home place can cost £30,000. Jonathan Bruce, managing director of Prestige Nursing & Care, said people are often hit with costs at the very time when they and their relatives are most in need of support. "With 87 per cent of people approaching old age without having made any financial provision for the cost of care, we face a significant crisis," he told the Daily Telegraph. The news comes as care home operator Southern Cross struck a deal to secure care for 31,000 elderly people, after running into financial difficulties this year. Posted by Georgina Price Related Articles: 17/5/2012 - Discussing death remains taboo as wills and inheritance tax planning suffers 11/5/2012 - Queen's Speech legal reforms welcomed 4/5/2012 - Create Lasting Power of Attorney before it's too late 2/5/2012 - Support for will writing regulation grows 25/4/2012 - Inheritance tax planning could net �450m a year in savings More Individual Legal Services News