ITV Tonight – The Importance Of Choosing The Right Solicitor For Powers Of Attorney

On ITV Tonight on December 14th 7.30pm, there’s a feature about Lasting Powers of Attorney and the importance of using a specialist solicitor to ensure they are legally robust and safe. This is a very big decision to make and you need to know that you can completely rely upon and trust in your solicitors for the best outcome to suit your needs.

There are some top tips around Lasting Powers of Attorney: –

Plan early

While you have capacity, it’s vital that you get your affairs in order and choose the best people to manage your affairs, in case of an accident or illness. You can’t appoint an attorney once you lose capacity.

Choose carefully

Think carefully who you want to appoint as your attorney and have an open conversation with them so they understand your wishes and what their responsibilities will include. Consider appointing more than one person as your attorney so they can share the responsibility.

Consider appointing a professional 

A family member might not always be the best person to act as your attorney. Instead, you can appoint a professional such as a solicitor. They can act as a neutral third party and make unbiased decisions that are in your best interests. Bear in mind this usually involves a cost.

Think about different circumstances

Consider how you would like your attorney to manage your property and financial affairs in different situations. For example, are you happy for your property to be sold to pay for your care costs?

Address the difficult questions

Your attorney might have to make difficult decisions about your health and welfare. If you have specific wishes around your care plans, medical treatment, or end of life wishes, make sure you discuss this with them and make your choices clear in your document.

Seek professional advice

Shop-bought and online LPA kits may be suitable for those with very straightforward financial situations or with considerable legal experience, but for most people, seeking professional legal advice is the best way of ensuring that an LPA is effective, legally robust and safe.

Keep your plans current

Make sure you keep your LPA updated if your circumstances change. Your choices around the people you want responsible for your finances and wellbeing may change, such as following a marriage or divorce, when children reach adulthood, or if parents pass away.

If you are looking for a professional and long established solicitors to help you through this, then please contact Rachael for a free consultation on 0161 643 2411

Dispatches & The Dementia Tax

We have an ageing population and this is likely to mean a greater number of dementia sufferers and more people requiring care at some point in the future.  Channel 4’s Dispatches programme on Monday 20th November will investigate the so-called dementia-tax and why some people pay for their care when others do not. This is a murky minefield at the moment and government are looking in to finding a residual line that works for everyone.

So What Is Dementia Tax?

This is a controversial bill that has been dubbed “dementia tax” and is designed so that all pensioners pay towards their care even if it means draining their life savings and selling their homes. There are people out there that genuinely feel like any inheritance that should rightfully be theirs will be handed over to the state to pay for their parent’s care and some believe they could even become homeless and destitute because of this tax.

What’s The Policy?

At present if you have over £23,250 in assets then you will have to pay for your own care, this government wants to up that to around £100,000 and which think tanks say could benefit hundreds of thousands of the poorer pensioners that maybe do not own their own homes, but do have savings between £23,250 and £100,000. The idea then is that payments are deferred until both married couples die.

There are some policies that let you get around this – these are:

  • If your partner or ex partner lives in your home.
  • You have a relative over 60 and under 18
  • Downsizing your property
  • If care home is temporary

According to a Guardian article published in October self funders generally pay around £797 per week for their care where as local authorities will pay on average £543 which is nearly 46% subsidised. Channel 4’s Dispatches will discuss why some have to sell their homes for care and others have access to NHS funding and will explain on ways to avoid the dementia tax.

Here at Temperley Taylor we have experts on hand to guide you through the process on what the best ways are in helping you make the best decisions when it comes to inheritance, why not setup a free no obligation meeting with Rachael or Nicola or call us today on 0161 643 2411