Thanks to better medical care and healthier lifestyles, we all have the prospect of living longer and this increase in life expectancy brings a number of financial implications.
The average cost of residential care in the UK is around £32,344 a year, rising to £44,512 if nursing care is also required.* The average stay in UK care homes is three years, which means the costs can be substantial*.
With this in mind We can help you meet your individual financial needs across your lifetime, and long-term care planning can be a vital component of our service.
The St. James's Place Later Life Planning Scheme provides you peace of mind by helping you to plan for Inheritance Tax (IHT) and secure an income to help cover your long-term care costs.
The value of an investment may fall as well as rise. You may get back less than the amount initially invested. If the income taken exceeds the growth on the Plan, the capital will be eroded.
*Source: Laing & Buisson Report 2017/18
**Trusts are not regulated by the Financial Conduct Authority.