Later Life Planning

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For those of us with elderly relatives, or – as we grow older – ourselves, it’s natural to have
concerns about how we or they will manage in the future.

At Michael Anvoner & Company we can assist in protecting your savings, your home and
other assets with estate planning, possibly in your Wills, or often through the careful use of
lifetime trusts.

We can advise on the best way to mitigate the impact of inheritance tax, and explain about
care fees, and ways by which careful planning can minimise or even eliminate them
completely.

This will enable you to effectively pass on your hard-earned savings to the next generation.

We’re members of Solicitors for the Elderly, an organisation of professionals who are
committed to providing and promoting comprehensive, independent legal advice for older
and vulnerable people, their family and carers.

By not leaving matters until your health, or that of your elderly relative, deteriorates, it’s
possible to provide security for your dependants to give you the peace-of-mind that
everything which can be done has been.

It also enables responsibility for financial matters (and health matters if you or your elderly
relative chooses) to rest with those people you or they trust.

We regularly advise on Lasting Powers of Attorney, Court of Protection matters, and
Property Protection Trusts.

People often feel they would like to transfer ownership of their home to their children, while
continuing to live there.

Although this is generally possible there are many pitfalls and problems, which you almost
certainly won’t have considered or even have been aware of, and which are rarely mentioned
in financial articles in the Sunday newspapers.

We can advise on the relative merits and disadvantages of transferring your home in this way.

Furthermore, having discussed with you the main reasons for your wishes, we can often
suggest alternative solutions which would address your intentions while avoiding some of the
disadvantages of a simple gift.

You will then be able to make a considered decision on the best way forward; no two
scenarios are alike and every client’s situation is different.

Although we can, and do, offer help for elderly clients who are already needing care, or who
have started to lose their mental faculties, we generally achieve considerably more for those
clients who do not leave it so long.

Clients in good health and those who are in their mid-fifties to early-seventies can usually
reap the far greater benefits that are achievable from early planning.

Our greatest disappointments occur when prospective clients wait too long before speaking to
us. So, please call us to ensure you won’t fall into this category.

Download our free “Lasting Powers of Attorney” E booklet by completing the form below!

 
 
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