Care of the Elderly & Incapacitated

In later stages of life, the ability to cope with managing one’s affairs reduces with failing physical and mental health. The cost of care increases, and financial resources are depleted.

An “Enduring Power of Attorney” can solve most of the management problems – in the right hands, and if not left too late when mental incapacity makes it impossible to set up.

In cases of physical or mental incapacity, a Trust for dependant relatives, or resort to the Court of Protection may be necessary.

Good quality financial advice can help make your money go further – but how do you find the right adviser, particularly for “equity release” schemes?

For those who have ample reserves for nursing costs, but not made any plans to mitigate Inheritance Tax (IHT) on their death, saving IHT for their families can be a further issue. Unfortunately, the IHT planning options reduce with life expectancy, and become difficult once mental incapacity has intervened. However, a number of schemes are available even when a gift and survival by 7 or even 2 years is not likely.

For further information, and a free initial consultation, contact
Helen Webster.