The Government have not changed their stance on people paying for care when they are older.
If you did not know, we already have a phrase that is "If you thought 40% Inheritance tax was bad on death .... It may be more if you live!". This is in Care Fees Adviser.com.
What it means is very simple, if you are means tested as owning assets of £19,500 or more then currently you will be required to pay for your own residential care if you need it in later life. Even your property value is included and if you do not have the ready available cash or income to pay for these costs, sometimes in excess of £22,000 per year then the local authority may place a charge over your property to pay for that care.
On death, they will take the value of your home and you may have nothing to leave to your loved ones.
Visit the Care Fees Adviser.com now.
Why not try our Property Decumulator Calculator to see how long your house would last?