Planning for future years
Introduced by his solicitor, our client was living in modest circumstances, although he had a reasonable pension and a portfolio of stocks and shares. He was elderly, lived alone and was somewhat resistant to change.
We identified that, particularly as his relations lived at some distance, he needed to plan ahead for provision of long term care in case he were to become unable to care for himself. As then arranged, his capital and income were not then sufficient to meet his needs in that eventuality. We were able to guide him, after some persuasion, to put some protection in place and meanwhile brought some order to his affairs, helping him make use of his various tax allowances, and effectively ‘unfreeze’ his portfolio which, previously untended, had become illiquid.
A few years later he became in need of long term care, and owing to the protection we had put in place, he was able to be looked after at home in style by a live-in carer and his life was transformed. He put on weight and enjoyed his latter years and the company of his carer in equal measure. The arrangement saved his estate £250,000 and his beneficiaries have become clients too.