Are there specialist financial advisers out there?

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.
 

jenniferpa

Registered User
Jun 27, 2006
39,448
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
 

Quilty

Registered User
Aug 28, 2014
1,051
GLASGOW
Which magazine did a good article on planning for care costs. I dont haveca link but it is likely to be online.
 

Spamar

Registered User
Oct 5, 2013
7,029
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.
 

Early Girlie

Registered User
Jul 5, 2015
66
St Albans
Welcome to Talking Point.

I'm thinking your best bet might be solicitors for the elderly. 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
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.
 

Early Girlie

Registered User
Jul 5, 2015
66
St Albans
We found an IFA via this website who had specialist qualifications and was very good. We wanted advice on the possible purchase of a care fees annuity for my mum but she also talked us through a number of other options.
Thank you so much, this is exactly what I was hoping to find.
 

Maiakins

Registered User
Jul 7, 2015
7
55
Tring, Hertfordshire
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.
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.