Life expectancy is at a record high. This is great news for those who have good health and sufficient wealth.
However, planning your affairs so that your money will last as long as your lifetime is now much harder. What was an adequate amount of income when you first retired may not be so ten, twenty or thirty years later.
Advancing life expectancies highlight the importance of developing a financial plan that stands the test of time. The most common factors that can derail your finances in later years are inflation and failing health. By building allowances for these into your plans, you can protect your future finances.
Failing health can be difficult to plan for due to the unknown factors involved. However, by earmarking some of your savings for this eventuality, you can plan to meet the costs of healthcare and personal care. Having a Lasting Power of Attorney in place is also essential.
If you require long-term care, our specialist team of advisers for elderly clients can suggest strategies to help you cope with the costs. These include reviewing your pensions and savings; considering tax-efficient immediate care plans and equity-release options; and helping you understand state benefits available.
To ensure that your hard-earned wealth goes to your loved ones, it's vital that your Will reflects your wishes and is tax efficient. LEBC can help you to identify such issues and introduce you to trusted legal advisers who will review your Will and Power of Attorney needs and provide you with the relevant advice.
Create your tomorrow today. Learn more about the wide range of services available from LEBC.
Create your tomorrowIt means a lot to us that you are taking a personal interest in our well being, a rare thing these days.