• Financial Care Solutions
  • About You
    • Retirement Planning
    • Later Life Planning
    • Care Fees Planning
  • About Us
    • Our fees
    • Care Planning Guides
  • News
  • Get in touch

Call me on 01737 321 206

catriona@financialcaresolutions.co.uk
Secure client login
Financial Care SolutionsFinancial Care Solutions
Financial Care SolutionsFinancial Care Solutions
  • Financial Care Solutions
  • About You
    • Retirement Planning
    • Later Life Planning
    • Care Fees Planning
  • About Us
    • Our fees
    • Care Planning Guides
  • News
  • Get in touch

Later Life Planning

I’m asked a lot about later life and what it means.

After you’ve enjoyed your retirement for a certain number of years, you’ve done lots of the fun things you wanted, and enjoyed your hobbies you really wanted to participate in, the next stage is later life.

To me, it’s really from the age of 70. It’s when you really need to start thinking about what later life means for you; do you want to leave a legacy to your loved ones?

Unfortunately, an awful lot of family disputes happen on death, and it’s generally related to money, with a lack of clarity prompting many disputes. It would be so nice if people planned for that a little bit more.

If more families were aware, these misunderstandings would not be as frequent as they currently are.

What happens if you have a care or support need in the future, or you experience an illness or terminal illness?

I don’t want to sound morbid, but it’s about thinking about the end of life as well, making it clear if you have particular wishes; that you share these with your family and loved ones, so there are measures in place for when you die.

Thinking about capacity

You might want to think about capacity, which is really important if you get to a stage where you can’t make a decision for yourself.

It’s also about having the confidence to make important financial decisions; isn’t it nice to think you could have a power of attorney in place which would allow someone to act on your behalf in that situation?

It’s really important to choose the right attorneys.

You can have a property and financial affairs power of attorney, and you can also have one for health and welfare.

They operate quite differently and both are important to have in place.

Often, people will choose different attorneys for both sides, depending on what’s more suitable for the family situation.

I always encourage my clients to have both sets in place, because it’s very important for your health and welfare to be addressed, as well as your financial affairs.

Planning ahead

When you get to this later stage of life, it’s like everything else; if you think about these things – and I know it’s not always nice to think about – but thinking about these issues at an early stage places you in a really good place to make decisions.

Planning ahead takes the pressure off your family and those that you leave behind, making it simpler for them to manage your estate.

Contact Us

We're currently offline. Send us an email and we'll get back to you, asap.

Send Message
Let's talk about later life planning Schedule a call
Financial Care Solutions
Schedule a call

Get in touch

  • Financial Care Solutions Ltd
  • Abbey House, 25 Clarendon Road, Redhill, Surrey, RH1 1QZ
  • 01737 321 206
  • catriona@financialcaresolutions.co.uk
  • https://www.financialcaresolutions.co.uk

Society of Later Life Advisers

Financial Vulnerability Taskforce

Our latest news

So, when is the right time for care?

So, when is the right time for care?

24/02/2021

Planning for a care and support need is not usually high on...

Light at the end of the coronavirus tunnel

Light at the end of the coronavirus tunnel

28/01/2021

Nobody has escaped the impact of this pandemic; it has...

Lockdown can’t stop your retirement dreams

Lockdown can’t stop your retirement dreams

07/01/2021

January has always been the month to try and make New...

Financial Care Solutions Ltd is an Appointed Representative of Best Practice IFA Group Ltd which is authorised and regulated by the Financial Conduct Authority.

The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services businesses aren’t able to resolve themselves. To contact the Financial Ombudsman Service please visit www.financial-ombudsman.org.uk.

The guidance and/or advice contained within this website are subject to the UK regulatory regime, and are therefore targeted at consumers based in the UK.

Registered Number 720600. Registered in England No 09712439.

Registered Office Abbey House, 25 Clarendon Road, Redhill, Surrey, RH1 1QZ.

© 2021 · Financial Care Solutions Ltd | Privacy Policy | Legal Disclaimer | Terms & Conditions | Site by Bamford Media