Planning for Later Life Care
As life expectancy grows, care becomes a part of the plan — not a worry
Most of us plan for holidays, retirement income, inheritance or investments. But what many miss is the potential cost — and complexity — of needing long-term care in later life. Whether you prefer to stay at home, need part-time support, or eventually require residential care — without a plan, the cost can quickly outpace income or savings.
At Lucent, we help build a care-proof financial plan — so your later years stay secure, dignified and under your control.
Why Choose Lucent for Your Financial Planning?
Our financial planners, with the support of our wider team, work tirelessly to ensure our clients receive the highest standards of advice and care. We are proud of the reviews we receive on third party sites.(Numbers updated Dec 2025)
Why Care Planning Matters — The Reality of Later Life Costs
- Care isn’t free: Many people in residential or nursing homes in the UK are “self-funders.” A recent survey estimates average UK care home costs can run into tens of thousands of pounds a year. Depending on location and care level, the cost may be well beyond what savings can support.
- Means-testing matters: State-funded care is available only if income, savings and capital fall below certain thresholds. For people with property, pensions or savings, the local authority may require full or partial self-funding.
- Longevity & unpredictability: With people living longer, care could last many years; planning must account for inflation, rising costs, potential higher needs over time.
- Wealth & legacy risk: Without proper planning, paying for care might erode assets you hoped to leave to family — property, savings, investments.
In other words: care doesn’t just affect health — it affects lifetime financial security and legacy.
What Good Care Planning Looks Like
A comprehensive care plan should aim to deliver:
- A clear estimate of likely care costs (home help, residential, nursing, care home fees) based on realistic need and local costs.
- A funding strategy tailored to your situation: savings, pension drawdown, investments, annuities, equity release, or combination — balanced for risk, liquidity, and future income goals.
- Income & cashflow planning: ensure regular income to cover living and care costs—even if savings or assets are partially tied up.
- Asset and estate protection — avoiding forced sale of property, preserving inheritance, handling benefit-means-tests or housing value, minimizing tax and probate issues.
- Flexibility and contingency — ability to adapt if care needs change, if long-term care is needed, if health or costs escalate.
- Peace of mind — knowing you or your loved ones can access quality care without jeopardising long-term security, dignity or legacy.
How We Help — A 5-Step Later Life Care Planning Service
1. Care-Needs & Cost Assessment
We start with a free, no-obligation consultation to understand your likely future care needs (short-term home help, long-term home care, residential or nursing home), based on health, family, property and lifestyle.
2. Asset & Income Inventory
We review everything: pensions, savings, investments, property, existing insurance or protections, expected inheritance — to map what could fund care long-term.
3. Funding Strategy Design
Depending on your needs and goals, we craft a bespoke plan factoring in things like: Pension drawdown or annuity for reliable income (if appropriate); Estate & inheritance guidance; Consideration of equity release or property-value options (if relevant) to supplement care funding.
4. Protection & Contingency Planning
We suggest protection measures like insurance (if available), setting aside “reserve funds” for unpredictable events (health shocks, unexpected long-term care needs), and drafting or updating legal documents (wills, powers of attorney, estate plans) to protect you and your dependants.
5. We Support Implementation & Ongoing Review
Life changes: health, costs, family, legislation. We commit to periodic reviews — adjusting your plan for inflation, changing needs, evolving care situations — to keep you protected long-term.
Who This Page Is For
- Anyone approaching or in retirement who wants to plan ahead for potential care needs — whether you own property, have savings/pensions or expect to.
- Couples or singles who want to protect their wealth but ensure dignity and security if care becomes necessary.
- Families who wish to plan in advance — to avoid care costs wiping out inheritance or assets.
- People wanting to understand care-funding options (pension, investments, equity, annuities, protection) clearly — not just after a crisis arises.
Why Choose Lucent for Later-Life Care Planning
✅ Holistic financial planning — not just a “care calculator.” We integrate care planning with pensions, investments, protection, estate and legacy planning — giving a full-lifecycle view, not siloed advice.
✅ Independent, regulated, values-based advice — not product sales. Your plan adapts to you (health, assets, family) — not to some generic template.
✅ Local-knowledge and realistic cost modelling — we take into account regional care costs, inflation, care-home fees — to avoid underestimating future needs.
✅ Focus on longevity, dignity and legacy — helping you balance today’s comfort with tomorrow’s security for you and loved ones.
✅ Ongoing guidance — not a one-off consultation — care needs evolve, markets shift; we stay with you through changes, reviews and external pressures.
See What Our Clients Say
We’ve helped hundreds of clients across the Midlands achieve financial peace of mind, freedom, and happiness.
Here’s what a few of them have to say...
"I'm really happy with their service! They took the time to understand my unique situation and goals, ensuring every recommendation aligned perfectly with my needs."
"From the very first moment of meeting, we were made to feel so welcome. We felt so relaxed and at ease. We felt staff were honest and trustworthy and talked in a way we understood."
"Steve understands our objectives, listens to our needs and what we require. He advises us how to best achieve our goals and encourages us to go ahead with our retirement. We are very happy with the current progress."
"We have used Lucent for several years and found them outstanding advisors. Steve Rowe is an outstanding example of how a brilliant advisor can turn around even the most sceptical client."
"Keely has been excellent in explaining so we clearly understand our pensions and investment options. The outcome has exceeded our expectations, the service we have received from Keely Woods has been exceptional."
"We have been with Steve for over 10 years. We have got to treat him as a friend now. Steve has guided us through some tough times on the way to retirement, we have always trusted his judgement."
"Steve has also stepped in with advice that has saved a significant amount in taxation over the past year and helped me in readiness for retirement."
"Luke has listened and understood our needs and provided very thorough explanations of our options to enable us to make a very informed decision."
"From the very first moment of meeting, we were made to feel so welcome. We felt so relaxed and at ease. We felt staff were honest and trustworthy and talked in a way we understood."
"Steve I would like to thank you for your support, understanding and advice. You have provided us with clear and concise details enabling us to make informed decisions."
"It took me a while to find the right financial planners, I wanted someone who was interested in doing the best for me and not just interested in what I would be worth to them. I definitely found that and more at Lucent."
"Keely has removed the “fear” from managing my financial assets - an important outcome for me. I am also happy with the outcomes in terms of the performance of investment decisions that I have made."
"Luke has provided a plan, based on investment advice, that allows us to meet our objectives. We have retired and our lifestyle has actually improved!"
Ready to take control of your future care?
Contact Lucent today if you’d like to understand what your care needs might cost — and how you can secure it without compromising your retirement or inheritance.
- Are you planning for future care needs and have investible assets over £500k?
- Do you want guidance on how to fund care without compromising your lifestyle?
- Are you interested in optimising your estate while planning for long-term care expenses?
- Would you like advice on protecting your assets while securing quality care?
If you answer yes to the above, get in touch.
FAQs
The earlier, the better. We recommend starting in your 50s or 60s to give yourself time to explore all your options and build a solid financial plan.
Long-term care insurance helps cover the cost of care services—whether at home or in a facility. We’ll help you decide if it’s the right choice for you and how it fits into your overall financial plan.
We’ll help you create a personalised budget, invest in low-risk assets, and explore insurance options to ensure you’re financially prepared for future healthcare needs.
Still have questions?
If you've got a question we haven't answered, we'd love to hear from you.