Helping you to plan ahead to enjoy your later years
Taking the plunge and initiating a conversation with a financial planner can help ensure an enjoyable and trouble free later life. Our chartered specialists can fine-tune your personal and family financial plans.
When to start planning?
Everyone will tell you the earlier the better. Mid-life, when disposable income is higher, is good. Of course, any planning at any age beats winging it through later life and making lifestyle compromises. However, there are always options. We can weigh these up and assist you to strike the right balance between:
- Providing parents, your partner and siblings with financial support
- Securing a tax efficient income that will see you through the rest of your life, potentially using equity release and home reversion plans to top up your income
- Reducing investment risks and preserving capital
- Maximising the value of your family business whilst minimising tax liabilities from any capital gains
- Ensuring that, if your health deteriorates, you claim any state financial support which may become available to you
- Care planning, ensuring that if and when the time comes people receive the best care possible that honours personal wishes
- Estate and inheritance tax planning, without compromising your financial security
- Establishing or reorganising trusts to better meet your family’s current needs and priorities
- Reviewing your Wills to ensure they reflect your personal wishes
You are in safe and fully authorised hands
Our team holds all of the qualifications and registrations needed to provide financial advice, including the specialist areas of Care Fees Planning, Equity Release and Home Reversion Plans. Louise Osborne is also a trained Dementia Friend and has experience working with clients and their families whose lives have been impacted by Dementia. If you’d like to learn more about becoming a Dementia Friend you can do so at the Dementia Friends Website
We are very pleased to work alongside your legal advisers to provide a fully comprehensive and joined up service. We also have a very broad range of contacts with specialist lawyers and other relevant professionals which we can call upon if appropriate.
Albert Goodman Chartered Financial Planners is a trading style of Albert Goodman Financial Planning Limited which is authorised and regulated by the Financial Conduct Authority.
Registered in England No. 2989819
Registered Office: Mary Street House, Mary Street, Taunton, TA1 3NW
Claiming NHS Continuing Care
We were approached by the family of an elderly, widowed lady who had moved into a residential home 3 years previously after developing various care needs. She was bed bound, doubly incontinent and unable to feed herself. At the time, she had been informed by the local authority and primary care trust that, while she qualified for a Registered Nursing Care Contribution of £108.70 per week towards her care fees, she was liable for all other costs – which amounted to over £3,000 a month.
She had now spent virtually all of her savings and her children, who were acting as her Attorneys, were considering the sale of the family home to continue funding her care.
Looking at her case, we believed that, given the severity of her needs she should be entitled to NHS Continuing Care. We approached one of our specialist contacts who advises in this field, and she agreed to take up the case. A retrospective claim was initiated to recover care fees which had wrongly been assessed.
The family recovered over £100,000 and this money has been invested on the lady’s behalf in a structure which should exempt it from inheritance tax if she survives, as is likely, for a further two years.
The NHS has now assumed responsibility for funding the lady’s future care costs and the family home does not now need to be sold. If the lady survives for two years no inheritance tax liability will arise on her death.
Get started today
Contact us today and speak to our expert team to get started