What happens when a will is not enough?
Long-term care fees
“I’ve worked hard all my life to leave something for my children, why should the local authority get it all?”
According to the most recent research, more than 45,000 homes are sold each year to fund care, with one in ten people (or one in five couples) shouldering care costs of at least £100,000.
The rules changed last year with the introduction of The Care Act 2014, but the new rules are complex and research shows that very few will benefit.
Planning and protecting what you’ve worked hard for has never been more important but requires specialist advice not readily available from high street law firms. This makes choosing the right adviser essential.
“I’ll make plans for this when I start feeling iffy.”
Impairment of the mind shouldn’t just be associated with illnesses such as Alzheimer’s. A bang on the head or a stroke, for which there is often no warning, can leave an individual unable to manage their own finances.
Many people wrongly assume a spouse or children can automatically step in, but the truth is that without an enduring or lasting power of attorney in place, both solely and jointly owned accounts can be frozen.
A long, complex, intrusive and expensive court process then awaits your loved ones to gain control of your affairs.
Read more: What is a lasting power of attorney?
Planning for the future requires far more than just writing a simple will. If you fail to plan effectively, there could be little left to pass on to your loved ones.
Taking advice from a specialist is vital, and you can take the first step by requesting a free information pack.
Simply call Reader’s Digest Legal on 0800 031 9516* and quoting reference ‘RDL 14’
*Reader’s Digest Legal is a service provided by the Collective Legal Solutions, part of the Co-op Group