How can I look after those who cannot care for themselves?
- What about if there is a sudden deterioration in health and need additional support?
- Will I run out of money if I need expensive nursing care when I am in my later years?
- I'm a Deputy or attorney needing professional support in meeting my obligations under the Mental Capacity Act 2005
- Establishing properly drafted Lasting Powers of Attorney (LPAs)
- Minimising vulnerability and protection from financial abuse
- Living a life of dignity
- Making provision for my spouse, who may need care after I’ve gone
How we can help?
Life doesn't always go as planned and difficulties arise, sometimes very serious and life changing events occur.
We all know someone who, perhaps despite their own view on things, can’t cope on their own and need professional help and support. It may be as a result of a sudden deterioration in health, a catastrophic injury or the onset of frailty or dementia. It may be transient or permanent.
There are some very simple and straightforward steps that people are able to take in planning their own affairs so that they are able to better withstand the financial implications of needing high levels of care and support. Having a properly drafted lasting power of attorney (LPA) is one such example. Although LPAs are not typically drafted by financial planners, we see it as an important part of making sure that you are properly prepared for such eventualities. In business, you would have a disaster recovery plan and you would stress test your systems and resources to ensure that the business could survive the worst financial circumstances. Holistic financial planning is really about ensuring that you never run out of money, whatever the circumstances.
There are of course people who, for no fault of their own, are suddenly placed in highly vulnerable circumstances, needing 24 hour care. This may be as a result of a catastrophic brain injury that has left them without mental capacity or serious physical injury that has totally changed their lives forever.
We have a specialist financial planning and advisory service that caters for the complex and changing needs of people who may have, for example, suffered as a result of medical negligence or industrial accident. The financial planning team are able to work collaboratively with specialist lawyers, attorneys and court appointed deputies to ensure that people in these circumstances are properly supported throughout their lives.