Later Life Planning

Later life planning involves preparing for the legal, financial, and personal aspects of aging. This includes creating documents such as Wills and Lasting Powers of Attorney, planning for healthcare and care home costs, and managing your estate to ensure your wishes are met as you grow older.

A Lasting Power of Attorney allows you to appoint someone you trust to make decisions on your behalf if you become unable to do so yourself. It covers decisions about your finances and property, as well as your health and welfare, ensuring that your preferences are respected.

An LPA for Property and Financial Affairs allows your attorney to manage your financial matters, such as paying bills and managing investments. An LPA for Health and Welfare allows your attorney to make decisions about your healthcare, including medical treatment and care arrangements, based on your preferences.

If you don’t make a Lasting Power of Attorney it can make life very difficult for your loved ones if you have an accident or illness or if you lose capacity.

Without a Power of Attorney, if you become incapacitated, decisions about your finances and healthcare will most likely be made by a court-appointed representative, which can be a lengthy and costly process. Having an LPA ensures that your wishes are respected and decisions are made by someone you trust.

An advanced care directive, also known as a living will, lets you specify your preferences for medical treatment in advance. We can help you draft an advanced care directive that clearly outlines your wishes regarding your healthcare and ensures they are legally recognised.

Your estate plan should include a Will, a Lasting Power of Attorney, and possibly trusts to manage and protect your assets. It should also address your preferences for healthcare and care home arrangements, ensuring that all aspects of your later life are covered.

Planning for care home funding involves understanding the costs of care, exploring funding options, and managing your finances to cover these costs. We offer guidance on how to prepare for care home fees and can introduce you to a financial planner – or work with your own existing financial planner – who will advise you on implementing financial planning strategies.

It’s important to review your later life plan regularly, particularly when there are significant changes in your life, such as changes in health, family circumstances, or financial situation. Regular reviews ensure that your plan remains current and reflective of your wishes.

Yes, you can make changes to your Lasting Power of Attorney or advanced care directive as your circumstances or preferences change. We can assist you in updating these documents to ensure they continue to meet your needs.

Gorman Legal offers comprehensive later life planning services, including the creation of Wills, Lasting Powers of Attorney, advanced care directives, and advice on estate planning and care home funding. We provide personalised guidance to help you prepare for the future with confidence and peace of mind.