Services for the Elderly

Services for the Elderly

As we get older, it’s a good idea to start planning for later life. At Burley Geach, we provide a range of services for the elderly. In 1985 almost 700,000 people in the UK were aged 85 or over. That number is projected to increase to 3.6 million by 2035.

One thing is for sure – we never know what’s around the corner.  Many of us will find that health issues arise, or finances become stretched and new challenges have to be faced. We might want to free up the capital in our home by down-sizing or perhaps considering equity release.

Of course, being “elderly” does not exclude anyone from any of the difficult and upsetting matters that affect many of our clients, such as contact with grandchildren, and Burley Geach can assure you that, whatever your enquiry, we have experts who can advise and assist you in a respectful and professional manner. However, there are some important and more specific considerations to make as we get older which we should all address to ensure that our affairs are dealt with as we would wish.

Full range of services for the elderly

It is always worth planning ahead and considering your what your future requirements might be. It’s a good time to make a will, if you haven’t done it already. People also start to take on board that at some point in the future, they might lose capacity and need someone to take decisions relating to finances or care on their behalf. To prepare for this, it is best to put in place a Power of Attorney while you still have full capacity, so that someone is legally appointed to take decisions on your behalf, should you ever be unable to make such decisions for yourself.

Here are the four main services for the elderly that we would recommend to our more senior clients:

Property

You might be considering a move to a smaller property to releasing some of the value of your home fund a particular project, to make gifts or just enhance your standard of living. If staying in your own home has ceased to be an option and you have made a move into care, where certain criteria is met, the possibility of a local authority deferred payment scheme may also warrant consideration.

Wills

It is important, no matter the size of your estate, to review your will and update it when necessary, ensuring family and friends benefit as you would wish. When making or revising your will you would also be wise to consider current tax laws so that the will is structured in the most efficient way possible.

Inheritance tax planning

It may be possible to mitigate a liability for inheritance tax by structuring your affairs through a combination of lifetime planning and careful drafting of wills. We can ensure that you fully utilise and benefit from available tax reliefs and exemptions.

Lasting Powers of Attorney

By appointing attorneys to deal with your financial affairs or health and welfare you can ensure that, if or when the time comes, very important decisions about you are made by people that care about you and that you trust to make the right choices. In the absence of an attorney it may become necessary to make an application to the Court of Protection for the appointment of a deputy which ultimately may mean decisions are made that do not reflect your wishes.

To advise in all these matters, Burley Geach have a team of specialists, including members of the Society of Trust and Estate Practitioners (STEP) and Solicitors for the Elderly (SFE) who are available to discuss your particular circumstances in more detail. To ensure peace of mind by arranging your personal affairs now please contact your nearest office.