Elderly Law Care

FINANCIAL MATTERS 

Tax planning advice 

Many older clients benefit from an independent review of their existing financial arrangements and the opportunity to get their papers in order.   

Tax planning also forms a key part of our service to you.  It is important to check that full advantage is being taken of  income tax allowances and that capital gains tax liability is minimised.  Future self-assessment of income tax liability is also a worry we can take off our clients‘  shoulders.    

Investment and pensions 

You may well require independent advice on the security of existing investments and the maximising of pension income.  Specialist advice is available to you using recommended intermediaries if necessary.    

PROPERTY ISSUES 

Raising income from your home 

Elderly persons with considerable value locked up in their own homes may also seek to realise that value in order to boost their income or to re-invest the capital.    There are a number of plans on the market for this purpose.  However, some of these schemes may be quite unsuitable and independent advice must be taken.  Raising income from your home in such ways should be regarded as a last resort.   

Leaving your Home 

On the other hand you may need to move out of your existing home into sheltered accommodation or residential care. In those circumstances we can advise on types of accommodation and the minimising of fees.   

Some clients may wish to give their house to their children or other relatives, whilst continuing to live there.  Alternatively you may need to move in with your children.  We can provide guidance on the tax and property consequences in order to protect your interests.      

WILLS, TRUSTS AND TAX 

We strongly advise making a Will if there is not already one in existence.  Wills ensure that it is clear what should happen to money, property and possessions after death, which will make it easier for your friends/relatives to sort out your affairs.     

Even if a Will has been made, perhaps some years ago, it is important to review it as one gets older and personal circumstances change.   

A major consideration your Will can address is liability for inheritance tax.  One does not have to be seriously rich for inheritance tax to be relevant since most assets left to anyone other than a UK domiciled spouse or charity over a net value of £312,000, and that includes the value of your property, is chargeable at 40% in many circumstances. It may be possible, for example, to reduce future inheritance tax liability by dividing the assets owned by a husband and wife, by claiming the nil rate band of a pre-deceased spouse and/or by setting up discretionary trusts.   

HEALTH AND CAPACITY   

Lasting Power of Attorney 

A substantial proportion of the population suffers some degree of mental infirmity as they grow older.  Elderly people who have difficulty dealing with their personal affairs may need to have their interests safeguarded.  This could involve day to day payment of bills or more serious decisions, for example, if they move into residential care and  need to sell their home.    

A Lasting Power of Attorney allows  a "donor", whilst still mentally capable, to authorise another to act on their behalf in relation to the donor's personal welfare and/or property and financial matters. 

The Lasting Power of Attorney will not become effective until it has been registered with the Office of the Public Guardian.  Registration can be delayed until a later date (e.g. the loss of the donor's mental capacity)

The Lasting Power of Attorney can be revoked at any time as long as the donor still has mental capacity.  For further information please see our specialist leaflet. 

Medical treatment 

Individuals who are unwilling to be kept alive, should they become incurably ill, may wish to express their  wishes in advance or may wish to delegate the right to make decisions to someone else in an "advance decision" (sometimes known as a "living Will") or a personal welfare Lasting Power of Attorney. If this includes you then we can advise you.  

WELFARE BENEFITS 

The UK system of welfare benefits is complex and often not easy to understand by that very group, the elderly, to whom it is directed.  Clients often welcome our guidance and we can  refer them to specialist agencies where relevant.     

The following is a checklist of benefits that may be available depending on  your individual circumstances.     

State benefits 

These are administered by the Benefits Agency and include weekly cash benefits, comprising taxable benefits such as retirement pension or incapacity benefit or others, usually non-taxable, such as attendance allowance and disability living allowance.  In addition there is income support available to bring your income up to a minimum level.  This benefit is means-tested.  Finally, non-repayable community care grants may also be available.  These are intended to help people stay in the community as opposed to being placed in residential care.   

Local authority benefits 

These are principally housing benefits which help people on low incomes to pay rent on occupied dwellings and council tax benefits to assist those on low incomes, whether they rent or own their own home.     

COMMUNITY CARE 

Funding for community care passed to local authorities under the Community Care Act 1990.  Elderly clients entering nursing or residential care may need advice on these funding rules. Those wishing to enter care homes have to undergo assessments by the local social services department to qualify for financial support.    

Once a client has been assessed as needing care the local authority has a legal obligation to provide it and will assess the client's ability to pay the standard charge using their standard funding rules.  Our advice is increasingly sought regarding ways of meeting the fees for long term residential or nursing care.   

It is also important that clients seek professional advice on alternative forms of annuities, investments or long term care fee plans to meet the rising cost of care over the remainder of their lives.   

HOW CAN WARNERS HELP YOU?

At Warners our experience and independent advice enables us to help relieve the worries of our older clients, their relatives and carers. We are always prepared to make home visits by arrangement. We will always explain at an initial interview the basis on which charges are made and a written summary will then be provided.