How best to invest house sale proceeds for care home fees

[waltzingparrot]

DM (91) is now in a care home with fees being paid by LA under the deferred payment option. We finally have a buyer for her house and will shortly be receiving a lump sum of around 300k, which will pay for past & future care fees.

How / where is it best to invest this sum? What proportion should we keep liquid? Are there any products available specifically for funding care home fees. Any advice gratefully received.

We bought an annuity to cover ongoing care for the rest of her life. Friends Provident I think. Do speak to a financial advisor

Thank you. I'll have a look into that.

I personally wouldn't go for an annuity - they can be extremely costly especially when someone is 91 you stand to potentially lose a lot of money. Definitely speak to a very good financial adviser