Individuals ought to make plans for when they get older to ensure they have adequate health care provision, it has been claimed.
Financial firm Edward Jones said that although many people may put off thinking about when their health may "deteriorate", it is "common sense" to make plans for the future.
However, the firm warned that although it may be "tempting" to transfer assets to relatives in order to qualify for financial assistance to cover care under the Community Care Act, people should be aware that local authorities could reclaim money used in this way.
"It is generally the intention behind any transfer of asset that will be looked at, rather than how long ago it took place," the company explained.
In related news, Catherine Rowley, Independent Medical Advisory Service manager at BUPA, recently said that many people are retiring in their 50s because of ill-health, often drawing their ill-health pension for several decades afterwards.
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