There are many things to look forward to in later life as you head towards retirement, including the increased financial security that comes with paying off your mortgage and receiving a guaranteed pension. You will have worked hard to get to this point and are now posed to reap the rewards that come from being careful with your money and thinking ahead. However, planning for the future is not something that should stop when you reach retirement: it is something you need to continue to do as you grow older and your circumstances change.
The plans you make will need to cover a range of matters, from what should happen if you become unwell and need long-term care to the steps you can take to preserve your wealth and ensure it is passed on to those you would like to receive an inheritance. There may also be tax issues that require consideration and special arrangements needed to ensure disabled or vulnerable family members are provided for.
- the creation of a power of attorney appointing someone you know and trust to manage your personal affairs if you lose the ability to manage them yourself;
- the creation of a business power of attorney appointing someone to manage your business affairs;
- the creation of an advanced decision confirming whether you would like life sustaining treatment if you become very unwell;
- a plan to cover the payment of care home fees and to fund other long-term care costs;
- a plan to enable you to pass on money to your loved one’s while you are still alive, paying no more tax than is necessary and without affecting your own standard of living;
- the creation of a will to ensure your money and property goes to those you choose to receive them;
- the creation of a trust to protect the inheritance of vulnerable beneficiaries;
- tax planning to ensure you take advantage of any available exemptions and reliefs, particularly for inheritance tax; and
- general wealth protection advice to ensure you and your family hold on to as much of your hard-earned money and property as possible.
We can also help your family apply to the Court of Protection for permission to deal with your affairs where you are too ill to make a lasting power of attorney and to apply to the Probate Registry after you have died for permission to administer your estate.
Advising families throughout Kent and beyond
We have offices in Maidstone, Gravesend, Tonbridge, Chatham and Tenterden where we can meet you to discuss your requirements.
We can also offer meetings at your home, in hospital or in a care facility, and in exceptional circumstances a telephone appointment can be arranged via skype.
An initial appointment to discuss your requirements can be arranged from £95 plus VAT. After that we can agree funding arrangements to suit your budget.
Get in touch
If you need assistance to plan for your later life, please get in touch to see how we can help. You can call us on 01474 35 11 99 or use our contact form and we will call you.