The cost of Residential Care

Protecting your assets from
the costs of Residential Care

Google Rating
5.0
Based on 162 reviews
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You’ve worked long and hard to buy your home and build up a savings pot. Without some forward thinking, the costs involved in care for later life can erode your best intentions, possibly wiping out your life savings and leaving nothing for your loved ones.

When someone enters care, they are immediately “means tested” and all their assets, including their home and other property assets you may have, are considered. Only those who cannot afford to pay, as assessed by the local authority, escape the costs of care.

Planning can be put in place that will safeguard your home from being sold to pay for your care, securing your savings and investments and ensuring your children and grandchildren do not lose their inheritance.

Frog Wealth Management can advise on the most appropriate Trust planning to ensure your home and other assets are protected from long term Care costs.

No one wants to see a lifetime of work, their home and savings being decimated by Care costs, leaving their children without their rightful inheritance. If you have any assets you want your children and family to benefit from, this is the best way to protect them.

At Frog Wealth Management, our advisers can advise on all aspects of Care planning

Find out more

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Some of our Google Reviews

I have used Frog Financial for several mortgages and cannot recommend them enough. Extremely helpful, professional and efficient and always going above and beyond to make the process as smooth as possible and finding the best options for me. Everyone in the team is brilliant to work with and I will of course be using them for all future mortgages! Sam x
I dealt with Greg to get a mortgage on my first property - he was fantastic, helped educate me on the process as well as coming up with outside of the box solutions, really happy with the service and will 100% use him again in the future.
Tom Evans
Tom Evans
1713279680
An exceptional service given. Everyone we have spoken with has gone above and beyond to help us and answer all questions we have. Can not recommend Frog financial management enough and will be using them again in the future.Helena & Jason
Jason Benn
Jason Benn
1712763206
Greg and the team at Frog Financial have been excellent with finding me a mortgage a couple of years ago and managing the renewal recently. They have been able to find the best deals in the market and provide good options and advice based on our conversations. They are friendly, attentive and responsive and I highly recommend them.
Carl Goodman
Carl Goodman
1712568081
Amazing team could not have done it without them.
Grace Kearns
Grace Kearns
1711487336
Excellent service from Charley on a non-standard building and contents insurance. She was prompt, and knowledgeable, and helped clarify various issues
Phenomenal service. I have and will recommend Frog Financial to everyone. Informative, helpful, great communication, so kind, and we really felt like the whole team cared about us. Took so much of the stress out of the process. We have no doubt that we will use Frog again! 🐸
Elena Prokopiou
Elena Prokopiou
1708805074
Arranged our mortgage deal and building insurance with Frog. They were really helpful throughout the whole process and we would have no hesitation at all recommending to others.
William Oakes
William Oakes
1708085925
Just the best, Greg helped me find a mortgage for my first property when other mortgage brokers couldn't find one to fit my needs. They were great answering any questions I had and helped me a lot throughout the house buying process. Also helped find and set up house insurance. Will be continuing to use them in the future and I highly recommend them.
K.K. Gres
K.K. Gres
1707130758
I was directed to Frog Financial in September 2018 and received excellent financial advice and general guidance. Since then I have requested them to investigate house insurance for me and have always signed up to the suggested policies.I would have no hesitation in suggesting they are approached by my friends to discuss their requirements.
Dave Shirvell
Dave Shirvell
1706109059
Charley was fantastic to work with. She was super efficient, working swiftly to find the best deal and to make it happen. I would be thrilled to recommend her and Frog Financial.
Jackie Samuel
Jackie Samuel
1705480246
The team at Frog did a stellar job of our remortgage, they took the stress out of the process with prompt, friendly and most importantly informative communication which made the whole process a breeze. We would not hesitate Frog to anyone. Thank you!
Lawrence Mills
Lawrence Mills
1705081739
I have been using Craig and Greg for 3 years and I have been very impressed with the service from Frog. The mortgage solutions that I required were fairly unusual and Greg was able to provide a bespoke service to suit my needs.
mark jordan
mark jordan
1704296797
Amazing financial service from Greg and his team.Really friendly, approachable and efficient. No waiting around for anythingGreat knowledge on helping me, they were also very patient and made the experience stress free. I will be recommending them to anyone needing help with mortgage /financial mattersFeel more secure now with help and advice given. Will be back again in 2 years
Amazing service...always a very professional and quick service. Would definitely recommend:)
Clare Over
Clare Over
1702496481
I had a great experience with Frog Financial Management. Right from the start Greg was super reassuring and knowledgeable. As first time buyers we had a lot of questions and the whole team were always on hand to answer them. Greg, Danni and Charley were beyond helpful, always responsive and got everything that we needed sorted out, which added some peace of mind to what can be a scary process!
Alice B
Alice B
1702387954
Frog Financial have been sourcing property finance for me for several years. Always on hand to offer advice in the ever changing and complex world of mortgages! Charley can also source competitive property insurance.
Ben
Ben
1700132135
Craig,Ruth and the team have been fantastic.After a bad experience with another advisor, I contacted Frog.From the start Craig explained exactly how he would apply for the mortgage.My application was not straightforward as I had been Ltd for only one year.Craig, Ruth and the Frog team were extremely persistent at getting me the mortgage and always kept me updated and informed ,even calling out of hours for some reassurance.They are very professional and genuinely nice people, and great at what they do.I cannot recommend them highly enough.
D Farrow
D Farrow
1699305350
Excellent service, very proactive and quick to source our insurance policy renewal options from the market. Would highly recommend them. Charley has been providing great service to us.
Girish BP
Girish BP
1699089350
I’ve used Frog Financial services for nearly 3 years in a row for my home contents insurance. Charley is beyond professional and helpful and is always willing to to go above and beyond with any questions I may have. I would high recommend their services!
AK
AK
1698947412
I have just used frog financial management for equity release. They were helpful and informative. They helped me every step keeping me well informed. Thankyou to all the team, I would definitely recommend them.
Mandy Kent
Mandy Kent
1695728117
I wouldn't go anywhere else for mortgage help than Frog Financial. They are so helpful throughout the whole process and no question is too big or too small for them. I'd recommend them to anyone.
Megan Booth
Megan Booth
1695214306
Couldn’t recommend higher. Fantastic team from beginning to end. Managed to secure me a great mortgage even in these tricky times.
Grace Kearns
Grace Kearns
1693823190
Usually, I am always reluctant in giving out services base on google search as I believe in referrals for certain important & delicate things like getting a mortgage application done perfectly well. However, I will say my opinion has now changed based on the professionalism and way my application was handled at Frog! I am grateful to Craig, Val, and the whole team at Frog- You all have made me realise that a client does not need to be seen face to face before a great client base work can be carried out! Well done for the fantastic job done in getting my mortgage application through, hitch free. I am happy I made the decision to bet on you when my initial broker disappointed me :). I will recommend Frog to friends, family and anyone reading this.
Frog are completely on the ball. They source competitive rates and email us when our insurances need renewing - ensuring year on year that we get the best deal. They have sourced our mortgage for over 6 years and given us financial advice regarding our Wills and life assurance. We wouldn’t be without them. Thank you to Craig, Charlie and the team. You have made a huge difference to reducing our stress with financial worry.
Clare Denny
Clare Denny
1693417647
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Most people work hard throughout their lives and want whatever assets they have built up, to pass down to their children and grandchildren, so losing their property to Care Costs is a severe blow, find out more

Means Testing – Upper and Lower Limits (England and Northern Ireland only).

If you own more than the upper limit currently £23,250, (which includes your property, any cash or savings and stocks and shares) you will be expected to fund the full cost of your own Care fees. You will not receive any financial help from your local Council, until your savings (assets) have been reduced to the upper limit.

If you have less than the upper savings limit or, when your savings drop to this limit, the local council will then assess your ability to pay based on both your capital and income.

If you have assets below the lower limit, currently £14,250, then any contribution you may be required to make towards the cost of your Care will be based solely on your income and your assets disregarded.

If you own your own home, then it’s value will usually be counted as capital. There are some important exceptions to this rule.

  • Your property will be disregarded for the first 12 weeks after you enter care permanently.
  • If your husband, wife, unmarried partner or civil partner lives in your home, then it’s value will not be counted as capital.
  • If a relative aged 60 or over lives in your home, it’s value will be ignored.
  • If a relative under the age of 60, who is incapacitated (i.e. receiving Incapacity benefit or disability Living allowance) lives there, then again, the value will be discounted.
  • If your home is occupied by your estranged or divorced partner and he or she is a lone parent with a dependent child, it’s value will be ignored.
  • The value of your property should be ignored if you are liable to maintain a child under the age of 16 and your house is the child’s main home. The child must be either a relative of yours or a relative of a member of your family.

There are other situations in which the Council may ignore the value of your home at their discretion.

If you jointly own your home with someone who does not fit into any of the above categories i.e. a relative under the age of 60 or a friend, then in this situation the Council will designate a value to your Interest in the property. The value will depend on the price that your share of the property could be realistically obtained from, what is termed as a willing buyer.

If your co-owner is unable or unwilling to buy your share from you, your interest in the property could be held to be worth nothing. This is because it is highly unlikely that an outsider would want to buy into a property, when this would involve sharing it with someone else.

You are most at risk of losing your home to Care costs when you enter Care, after owning your home jointly with a spouse, unmarried partner, or civil partner and they have passed away. The full capital value of your home will have passed to you and you will be assessed on the property’s full value, along with any other formerly jointly held assets, such as savings.

Whilst the Council cannot force you to sell your home, if you are unable to cover your Care Home fees the money you owe to your local Council will mount up. However, the local Council can allow you to defer part of your contribution, if you are unable or unwilling to sell your home and you do not have enough income, or other assets to cover your full fees. This will be seen as an interest free loan, or a deferred payments agreement and will be paid back when your property is eventually sold, or when your Estate is wound up.

The deferred payments agreements could involve a legal charge being placed on your property. The amount of money you owe will then start to incur interest 56 days after your death, or the date you terminate the deferred payments agreement. You may also have to cover any legal costs involved in placing such a charge.

Although you can defer the part of the contribution, that is based on the value of your home, you will still have to contribute any other assets or income you may have towards the costs of your Care Home fees.

When buying a property with another person, most people own the property as Joint Tenants and whilst this may be the correct way to own a property in certain circumstances, for the vast majority of people, this is not the best way to own a property for either, Care Cost issues or IHT liabilities.

As previously stated, when entering Long Term Care all assets, property and income will be assessed.

Assets such as Cash, Stocks and Shares, Bank and Building Society accounts, PEPs and ISAs, etc, will be assessed as liquid assets and in addition to any income received, will be assessed for Care.

If you would like to discuss the possible implications of this with one of our Advisers, please contact us.

If you would like to discuss the possible implications for you with one of our Advisers