It is a rare opportunity that presents itself from time to time when some aspect of the future is known about and can be profited from. Lottery numbers, winners of the Grand National and end of trading results on the stock market aside, we are left with the known facts of the world, some of should be used when addressing any plans that we make for the future. The population is getting older. According to new research from the University of Southern Denmark, over half of the children born in the last few years will live to see 100 years of age. The Department for Work and Pensions predicts that of all the people alive in the UK today, one in six will live to be 100. Whilst this is very encouraging from one point of view, it does present some problems. Primarily – who is going to financially provide for a growing number of people that do not work? Additionally, according to former Health Secretary Andy Burnham “1 in 3 men and half of all women will need some form of long-term care” Again, the question remains – who will pay for this care? This information should be viewed as an opportunity to predict the future. Currently, when someone goes into care, the Local Authority has access to the assets of the individual above £23,250. The Authority has the power to seize a person’s property, and to use the pension, savings and investments to pay for their care. With average care costs amounting to £800 per week, a person’s assets can erode rapidly. In situations where a couple both go into care, this erosion is obviously twice as fast. Considering that the problem for the government is going to get worse, not better, it is worth taking the opportunity NOW to secure the assets that you own to ensure that your children actually receive the inheritance you want to leave them. There are several solutions available, the best one of which will depend on your circumstances. Why not give me a call today and see what can be done to protect your own or your family’s assets for the long-term future? Antony Brinkman Mobile: 07761 058379
Owner and managing director of The Willwriting Partnership.
Formed in 1999, The Willwriting Partnership is a highly professional yet friendly company that…
Post articles and opinions on Manchester Professionals
to attract new clients and referrals. Feature in newsletters.
Join for free today and upload your articles for new contacts to read and enquire further.
