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"Inheritance Levy'' To Fund Care Of Elderly
Added 06/08/2009
Government proposes £12,000 "inheritance levy'' to pay for care of the elderly.
A government green paper on long-term care, published this month, outlines proposals for a £12,000 "inheritance levy to fund health treatment for the elderly.
Instead of having to sell their homes in old age to fund health treatment, Britons could instead pay the Government up to £12,000 for long-term care which would either be deducted from the estates of older people when they die, or paid on retirement.
Many pensioners are forced to sell their family homes to fund huge nursing home bills. The proposal is one of many to help cope with the demands of an ageing population.