Financial Advice Leaflet

Clifton Hospital

Financial Advice Upon Discharge From Hospital

Clifton Discharge facilitators David and Bev

Making the most of life after hospital How financial advice can help you plan with confidence - a guide for older people and their families following hospital discharge Returning home after hospital

Plan for care costs

Being discharged from hospital is an important step towards recovery.

Alongside your health and wellbeing, it is often a good time to review your finances and future plans.

If additional support is needed at home or in a care setting, an adviser can explain:

Many older people face questions about: • • • •

• How care is funded • What financial support may be available • Ways to budget for future care needs

Paying for care and support Managing pensions and savings Planning for future healthcare needs Protecting assets for a spouse or family • Making informed financial decisions

Maximise benefits and entitlements

A qualified financial adviser can help you understand your options and make decisions with confidence.

• • • •

Why consider speaking to a financial adviser?

Reduce financial worry

A financial adviser can help you understand your income. Many people have several sources of income including: • • • • •

State Pension Workplace pensions Private pensions Savings and investments Benefits and allowances

An adviser can help ensure you understand what income is available to you.

Many older people are unaware of benefits they may be entitled to receive.

An adviser can help identify: Attendance Allowance Pension Credit Council Tax support Other available assistance

Having a clear financial plan can help reduce uncertainty and allow you and your family to focus on recovery and wellbeing.

Questions worth asking • Can I afford additional support at home?

• Am I receiving all the benefits I am entitled to?

• What happens if my care needs increase?

• How can I make my savings last longer?

• Are there ways to improve my financial security?

A financial adviser can help answer these questions and explain your options clearly.

Support for families and carers Family members often help older relatives make important decisions after hospital discharge.

A financial adviser can: • Explain options in plain English • Help families understand future costs • Provide reassurance during difficult decisions • Support long-term planning

Peace of mind for the future Good financial planning is not about selling products.

It is about helping you understand your choices, protect your financial wellbeing and make informed decisions about the future.

Many people find that a conversation with a qualified adviser gives them greater confidence at a time of change.

Choosing the right adviser When selecting a financial adviser, look for someone who: • Is authorised and regulated by the Financial Conduct Authority (FCA) • Has experience working with later-life clients • Explains charges clearly • Takes time to understand your circumstances • Provides recommendations tailored to your needs

Later-life financial planning A financial adviser may be able to help with: • • • • • • •

Retirement income planning Care fee planning Estate and inheritance planning Lasting Powers of Attorney Investment management Protection against financial scams Passing wealth to future generations

Need more information?

Speak to your healthcare team, family members or a qualified financial adviser to discuss whether financial advice may be beneficial for your individual circumstances.

Important information Financial advice is not suitable for everyone and should be based on your personal circumstances. Before making any financial decisions, ensure that any adviser you consult is authorised and regulated by the Financial Conduct Authority (FCA).

Worried about care fees?

At Questa, we provide expert advice to help you and your family navigate difficult financial decisions.

Here's how we can support you: • • •

Manage your investments Explore ways to release funds Find solutions for unexpected costs

With Questa, friendly practical guidance and peace of mind are just a phone call away.

Help is at hand. Contact Lancashire's independent financial planning practice today on 01253 83 00 50 to bring you peace of mind.

Using equity in your home will affect the amount you are able to leave as an inheritance. Any means tested state benefits (both current and future) may be affected by any equity released.

This is a lifetime mortgage. To understand the features and risks, ask for a personalised illustration.

In some circumstances Questa may apply a fee.

Any applicable fees would be disclosed before processing the application.

Questa House, Croft Court, Plumpton Close, Whitehills Business Park, Blackpool FY4 5PR Email info@questachartered.co.uk call 01253 83 00 50 or visit questachartered.co.uk to find out more.

© Elderly Matters Tel: 01253 832400 R0