FirstStop Funding Advice
FirstStop firmly believes that financial security is an essential ingredient in providing older people with a sense of well-being. And, in later life finances may need special attention. For this reason, FirstStop has carefully chosen a number of providers of financial advice who specialise in the areas which are most likely to affect older people at some time in their retirement.
Paying for Care in Your Own Home
Paying for Care in a Care Home
Handling another person's finances - Mental Capacity Act
Benefits, Grants and other Financial help
Releasing Capital from Your Home (equity release)
Debt Counselling
Other Financial Advice
If you have been assessed as needing care in your own home (see needs assessment), the local authority may arrange and provide it for you, or you can arrange your own care independently.
Read about paying for care in your own home
If you have been assessed as needing care in a care home (see needs assessment), the local authority may help you to find a home that can meet your assessed needs but you will usually be expected to find and choose a suitable home yourself.
Read about paying for care in a care home
If you have to self-fund your care you could still be entitled to some support from the state and might find help in arranging your finances beneficial. FirstStop Advice has selected a panel of Care Fees Advisers who specialise in this and can help you fully understand your entitlements from the state and the specially designed financial products or your other options for meeting care costs.
Request written, personal funding advice from FirstStop
Handling another person's finances - Mental Capacity Act
If you need to manage someone else's affairs because they lack capacity to do so themselves, the Mental Capacity Act 2005 for England and Wales sets out who can act on their behalf, and when and under what circumstances they can do so.
Read about handling another person’s finances
Benefits, Grants and other Financial Help
FirstStop Advice can help you understand what state benefits or support you maybe entitled to help pay for your care or housing.
Read more about state benefits and support, or if you wish to discuss your particular circumstances call our advice line on 0800 377 70 70.
We have also partnered with Turn2us a charitable service which helps people access the money available to them – through welfare benefits, grants and other financial help. Their free, accessible website has been designed to help you find appropriate sources of financial support, quickly and easily, based on your particular needs and circumstances.
Click here to go to the Turn2us service
The equity in a property is the difference between its value and any mortgage or other debts held against it. Equity release is the term given to unlocking or making available some, or all of this value in your home whilst continuing to live in it. You may wish to consider this to help with the cost of care, home adaptations or improvements or any other personal reason.
Find out more about equity release
Retirement should be an enjoyable, relaxing time of life, but in contrast it can often be fraught with financial difficulties and anxiety. If you are concerned about meeting your monthly payments, it is important that you seek debt help straight away. Speaking to a debt counsellor will prevent your situation from getting any worse and will enable you to find a solution suited to your particular financial problem.
Read more about debt counselling
Retirement can often mean significant changes in lifestyle which bring with them financial demands or changes which may involve seeking financial advice. Here FirstStop Advice has collated a number of areas where such advice might be sought and providing links to the Financial Services Authority (FSA) Website ‘Money Advice Service’.
Read more about general financial advice