A Special Seminar was organised in Beeston, Nottingham, with advice on a problem many elderly people face – selling their home to fund residential or nursing care.
Peace of Mind in Retirement is designed for anyone over the age of 65 or with elderly parents.
The half-day course, run by the Nottingham and District Pre-Retirement Council, will only take place if sufficient interest is shown.
The demand for long-term care is increasing as people live to an older age. According to a Royal Commission Report, the number of people over 65 has increased by 400% since 1900 and doubled since 1931.
And the amount of care people need is also increasing, with one in five men and one in three women over the age of 65 requiring some form of residential care.
Phil Whitt of the pre-retirement council said there was an expectation among the public that the State should provide for care as people get older but this was not always the case. He said “As pressure on the State increases, it is important for people to plan for what care they might need in the future. The reality is that elderly people may end up selling their home to fund the cost of staying in a residential or nursing home.” The average weekly fee for a single room in a residential care home is rising and is even higher in a nursing home because of the cost of additional health care.
The Seminar will be opened by a Course Director of the Nottingham and District Pre-Retirement Council, who will speak about quality of life, including what benefits the State may provide. A representative from local Solicitors will give a guide through the legal minefield of long-term care. Independent financial advisers regulated by the Personal Investment Authority will give advice on protecting your future, including estate planning and making provision for longer-term care.
The panel will also answer questions.
The Seminar starts at 9.30 a.m. and ends with lunch at l.00 p.m. and a small fee will be raised to cover lunches.
For further details or an information pack contact,
Phil Whitt – course co-ordinator