15/12/2022 0 Comments
ELDERLY LAW - Planning for the Future
As people get older, their legal needs may change with some requiring more updating than others. This is particularly so where a loved-one is showing signs of memory loss or Alzheimer’s Disease.
The law relating to the elderly can be found in legislation that applies to individuals but there are sensitivities and urgencies which may have to be addressed and these are best done under the supervision of a solicitor.
Safeguards need to be in place to avoid an elderly person being abused or duped into spending or giving money away where it is not necessary. Elderly people need to make decisions about their lives where, for a variety of reasons, they may be having trouble coping. Future planning measures can avoid distress for the elderly and reduce costs too in addressing these matters sooner rather than later.
Elder Care Planning
Some of the areas that should be considered are:
- Making a Will
- Enduring Powers of Attorney
- Dealing with assets the person may have (shares, property interests)
- Equity Release Schemes
- Health and Personal Care Planning
- Financial planning
- Family Business succession.
Before embarking on any of the above measures in planning for the elderly, discuss it first with your solicitor and financial adviser.