Wills and Lifetime Financial Planning
Our Later Life Legal Team will explain the different resources that are available and will assist you to manage the costs associated with care funding and easing the transition into the later stages of life.
As life expectancies increase, the financial impact of long-term care is becoming an increasingly significant issue for many families. While old age may seem distant for some, it's never too early to establish practical plans. Having your affairs in order will not only safeguard your wishes and wealth, but it will also make the job easier for those who care for and support you in life at times of difficulty.
Our services include:
Consideration of your current situation to understand the level and type of current need, focusing on anticipated future increases in care needs and its impact on your family’s finances.
Directing you to the appropriate authority or organisation to initiate a detailed needs assessment.
Identifying your potential eligibility for financial support with your care expenses, which may be Local Authority means-tested support for social care needs, NHS Continuing Healthcare Funding for complex healthcare needs or NHS Funded Nursing care eligibility.
Helping you to understand the income and capital thresholds and disregards and deferred payment schemes and the assessment process for the different types of support.
Highlighting possible eligibility for state benefit such as attendance allowance or carers allowance with care expenses or accessing respite care.
Working with John Hodge Financial Planners to ensure all planning options have been considered in relation to your family wealth, assets, and home and to undertake detailed cashflow analysis .
Where appropriate, using trusts and estate planning strategies to balance your possible lifetime financial needs with your desire to leave an inheritance for your those you love after you have gone.
Advising on the importance of Lasting Powers of Attorney to enable trusted individuals to make decisions on your behalf either about your Health & Care or your Property & Finance. Making recommendations as to suitable individuals to appoint and important powers to include within each document. Advising you about the impact of these documents on any Advance Directives or Living Wills that you have in place.
People can require long-term care for various reasons. Sometimes this can be because of a pre-existing medical condition, a sudden need for care arising, or, most commonly, as a result of increasing age.
The most important thing that you can do is to prepare Lasting Powers of Attorney. These are legal documents that allow you to delegate your authority to others who can make decisions for you when you cannot make them yourself. Please see our Lasting Powers of Attorney page.
Sometimes this may be the most appropriate decision, but it is important that you seek specialist advice before taking such a difficult decision. Our lawyers and our colleagues at John Hodge Financial Planners are experienced at guiding you through this complex decision-making process and ensuring you have considered all the options available to you.
If you would like care fee planning advice then please don’t hesitate to reach out to our team of experts at John Hodge Solicitors and John Hodge Financial Planners based at our Weston-super-Mare, Clevedon, Yatton, Bridgwater, Bristol and Wedmore offices.
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