Presents a guide to the legal issues surrounding money and finances for older people or those planning for older age. Many of us leave it all too late to plan for retirement, or are caring for elderly relatives and face difficult decisions. The legal complexities are daunting. This guide by John Kerrigan, a professional solicitor, is written for law students, lawyers and financial advisors who are advising those planning for retirement, are retired or are caring for retired people. It clearly explains the issues and sets you on the path to giving sound financial advice in the context of the law.
It guides you through how to plan for older age, whether for yourself, a client or a family member; gives sound advice for planning for retirement and pension planning after retirement; covers difficult and taboo subjects, such as: capacity, powers of attorney, authority to operate a bank account, intervention orders, financial welfare guardianships, advance medical directives and care home fees; follows current case law and statutory positions in all cases; sets out key financial strategies - inheritance tax, strategies for lifetime mitigation, will planning and post death tax planning; takes into account HMRC's proposed changes to the taxation of Discretionary Trusts and discusses the Scottish Government consultation document on technical issues in relation to succession and the Scottish Law Commission's major Report on Trusts (No. 239), both published in August 2014.