In addition to our specialist Will services, Emyr Pierce Solicitors can advise on the various options available to protect your assets from Inheritance Tax and means testing for long term care fees.
Whilst not entirely restricted to our elderly clients, it is increasingly relevant for all of us to consider who we would wish to manage our financial affairs should we become physically unable to do so as a result of illness, old age or injury.
The creation of Lasting Powers of Attorney will ensure that you appoint the people of your choice to manage your property, financial affairs and issued regarding your health and welfare in such circumstances. This will also assist greatly should you ever become mentally incapable of managing your affairs through illness, old age, or following an accident.
The Mental Capacity Act 2005 entitles you to choose somebody to make decisions regarding your health and welfare as well as managing your financial affairs in the form of Lasting Powers of Attorney.
Our Estates and Administration team can provide you with advice, assistance and guidance in drawing up Lasting Powers of Attorney and making applications to the Office of the Public Guardian.
In the event of a person losing the mental capacity to make their own decisions an application must be made to the Office of the Public Guardian for the appointment of a Deputy who is appointed to manage the affairs of the patient, and who is empowered to act on the behalf of an incapacitated person in relation to their financial affairs and/or personal welfare.
Our Elderly Clients Services include:
- Drawing up Lasting Powers of Attorney.
- Applications to the Office of the Public Guardian for the appointment of a Deputy.
- Advice on asset management to minimise Inheritance Tax and long term care fees.
- Registration of Enduring Powers of Attorney.