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Money Box: The Care Fee Trap

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15/04/2017

The Care Fee Trap

BBC Radio 4 - Money Box, The Care Fee Trap

Is there a way to protect your assets from being used to pay care fees?

Michael Robinson investigates the companies that claim they can protect your home and savings from care fees by putting them into trust. Can you really beat the system?

If you need long term care when you get old, you can expect it to cost over £30,000 a year; every year, until you die.

Money Box investigates the companies that offer a solution: put your assets into a trust and you can protect your home and savings from care fees.

But can these companies really beat the system?

Presenter Michael Robinson discovers why these schemes may not work and asks if the sale of care fee protection strategies is another symptom of a crisis in funding for social care.

To find out, he speaks to Andrew Dilnot, who recommended the Government cap care fee liability six years ago. Is Dilnot right that all of this would come to an end if his reforms were introduced? And is he right to call the means test for care fees, the most pernicious in the whole welfare state?

Producer: Matt Bardo
Reporter: Michael Robinson
Editor: Andrew Smith.

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