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Supporting the older generation

We understand that, as your parents grow older, they may come to rely on you to assist them with the management of their financial affairs and to make and review care arrangements. This is a significant undertaking, but it can be simplified by starting to plan early and getting the correct legal documents in place.

To provide you with the legal powers you will require to manage their finances and make health and care decisions when the time is right, we can advise your parents regarding Lasting Powers of Attorney and deal with the preparation and registration of these important documents. If one of your parents should lose capacity without these documents in place, we can then assist you in making the necessary applications to the Court of Protection.

Cripps Life has the necessary expertise to advise you and your parents on issues relating to care fee funding, including applying to the Local Authority for contributions and the potential to use will trusts to protect assets from being used to fund care.

If your parents are trustees of family trusts, they may like to retire and appoint you in their place. We can deal with these retirements and appointments – we understand that this may be new territory for you, and can advise you regarding your duties as a trustee. We also have a trust administration team that can assist with the day-to-day administration of the trust on your behalf.

We can advise your parents on tax planning matters to allow them to pass on as much of their hard-earned wealth as possible to the younger generations. We can then help them to get wills in place to ensure their estates pass in accordance with their wishes.

Finally, you may have been named as an executor of your parents’ wills. We have a dedicated estates team who can act for you in the administration to reduce the burden on your time and make sure that the estate is dealt with both correctly and efficiently.

Key contact

Stephen Horscroft

Looking for something else?

If you have questions we haven’t answered here, please contact one of the team for a no-obligation, initial conversation and we can take the first step in achieving your goals.