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Getting advice about your finances

It's a good idea to know what all your options are when you're thinking about how to pay for care and support.

If you're going to pay for care and support by yourself instead of involving us, we would suggest that you get some financial advice so that you can make good decisions about how you can pay for what you need both now and in the future.

Independent financial advice

There are lots of different ways for you to find extra sources of money to help you to pay for your care and support. A good financial advisor will work closely with you to find your best option for how you can pay for the care you need both now and in the future.

Independent Financial Advisors (IFAs) will be able to offer you all the products available for your individual needs. However, you will usually need to pay for this service. IFAs are regulated by the Financial Conduct Authority (FCA). This means that they have to provide advice which is most suited to your personal requirements. You can find a local IFA through the Society of Later Life Advisors (SOLLA). The Citizens AdviceAge UK and Mencap can also offer general advice and guidance around suitable IFAs.

You can also visit the following sites for more information on who can help with financial advice: Unbiased and Money Advice Service.

Financial representatives

You can appoint a financial representative to help you to send us your financial information. A financial representative could hold any of the following:

Financial Protection Team

You may be experiencing difficulties managing your money and have no support from friends or family. In this case, your social worker can carry out a mental capacity assessment and if necessary, refer you to our Financial Protection Team (FPT). The FPT can apply to the Department of Works and Pensions or the Court of Protection to hold Appointeeship or Deputyship. 

If the application is successful, the FPT will be responsible for managing your finances. They will make sure that you have enough money for daily living and that all your bills and expenses are paid.

Financial Assessment Team

For general advice and about the financial assessment process, or help understanding what benefits you might be entitled to, you can contact our Financial Assessment Team. They can also advise you about how your income, capital or savings will affect the amount you will have to pay towards your care and support.

Our local crisis and benefit support pages will give you further advice on welfare benefits and other help you may need.

Contact us

Financial Assessment Team
Resources and Digital
Civic Centre Regent Street
Gateshead
NE8 1HH

0191 433 2316

financialassessments@gateshead.gov.uk

Other benefits you maybe able to claim

The links below will give you information on other benefits that you may be able to claim.

Pension Credit
State Pension
Attendance Allowance
Disability Living Allowance
Personal Independence Payments
Universal Credit

 

 

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