Are there specialist financial advisers out there?

Discussion in 'Legal and financial issues' started by Early Girlie, Jul 5, 2015.

  1. Early Girlie

    Early Girlie Registered User

    Jul 5, 2015
    66
    St Albans
    Hello
    We are coming to terms with my husband's diagnosis of early onset AD. I seem to be focusing on the practical side, maybe to delay facing the emotional response. :(

    Although he hasn't been able to work for a while, I am lucky enough to have a well-paid job, and we both have good savings and a property with a decent level of equity. However, we are certainly not wealthy, and I am keen to put some really good financial planning into effect to ensure he can have everything he will need, and I will not lose everything I have in trying to fund it.

    Can anyone tell me if there are independent financial advisers out there who specialise in advice for this sort of situation please? And how do I find them?

    Thanks.
     
  2. jenniferpa

    jenniferpa Volunteer Moderator

    Jun 27, 2006
    39,418
    Welcome to Talking Point.

    I'm thinking your best bet might be solicitors for the elderly. http://www.solicitorsfortheelderly.com/public/what-is-sfe While I realise you aren't elderly the issues you are dealing with are the same sort of thing. If anyone has any other suggestions, please use the PM system (SLE are recommended by AS which is why I can name them on the forum).

    I applaud you for dealing with the practicalities now. At the most basic level you should ensure you have LPAs in place for your husband, and to be honest, for yourself as well. I would also suggest separating any savings you have as well, that way you can pay for any care from your husbands share, rather than from jointly held savings. Also, have you applied for PIP (Personal Independence Payment)? This may not apply yet, but at some point you should be eligible for a disregard for 25% of your council tax on the basis of severe mental impairment. See this fact sheet http://www.alzheimers.org.uk/site/scripts/documents_info.php?documentID=137
     
  3. Quilty

    Quilty Registered User

    Aug 28, 2014
    1,056
    GLASGOW
    Which magazine did a good article on planning for care costs. I dont haveca link but it is likely to be online.
     
  4. Spamar

    Spamar Registered User

    Oct 5, 2013
    6,839
    Suffolk
    Some IFAs have special qualifications in dealing with such things. Contact any one of them, or talk to your usual advisor and ask if he has these qualifications.
     
  5. Pickles53

    Pickles53 Registered User

    Feb 25, 2014
    2,482
    Radcliffe on Trent
  6. Early Girlie

    Early Girlie Registered User

    Jul 5, 2015
    66
    St Albans
    Thank you, Jennifer.
    I must admit it hadn't occurred to me to have an LPA for myself. I will check out the links. Much appreciated.
     
  7. Early Girlie

    Early Girlie Registered User

    Jul 5, 2015
    66
    St Albans
    Thank you so much, this is exactly what I was hoping to find.
     
  8. Maiakins

    Maiakins Registered User

    Jul 7, 2015
    7
    Tring, Hertfordshire
    Hope you join the early onset group, your insights welcome. Most qualified advisors will be fine. Most important is do you feel trust and comfort with them. Focus on LPA, Medical Directives,sometimes called a living will. Consider transferring assets to beneficiaries (children?) as some important benefits that could seriously drain you are means and savings tested. Best to you.
     

Share This Page

  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.
  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.