Later Life Planning

No-one can be certain how long they will be retired; sadly, you hear stories all the time of people passing away within months of retiring and conversely, we are seeing more and more people reaching 100! It is essential to plan ahead.

Planning is essential if you consider you might live for 30 years in retirement. Planning is essential if you think you might spend some of this time incapacitated, through ill-health or with dementia. Planning is essential if you want to ensure your hard-won assets go to those you want to benefit. Protego-te are well positioned to give you advice; our first introductory meeting is free and usually from that meeting we can give you a clear indication of both our fees and the benefits we can provide.

What to Consider

Retirement income. Potentially in the first few years your cost of living and enjoying retirement might be high, as you deservedly take those cruises and visit those promised tourist sites. In later years this will undoubtedly reduce as you make adjustments in your life style. Everyone has different plans and the best advice is to talk to one of our experts. We have a planning worksheet which we use to help you visualise your future expenditure versus income, contact us for a free review.

Getting a better return on your investments. You will be aware savers have had a poor return on their investments over the past decade and as you retire and potentially downsize your house or sell some of your assets you will need sound proven advice on how to get a better return on your investments. Contact us to receive this sound advice.

Estate Planning. So how do you ensure you leave as much as you can and ‘want to’ to your specific beneficiaries. To the loved ones you have worked hard for over the years. Well it can be complicated! Here are 3 typical scenarios that happen all the time:

  1. You become incapacitated through illness or dementia and your family are unable to manage your affairs or protect your money from being used by third parties. (possibly on your cost of care)
  2. After you pass away a member of your family receives their inheritance but then their situation changes and the money you thought would end up in your grandchildren’s hands doesn’t. Instead it goes to someone you never knew.
  3. You die intestate (without a Will) and your partner (perhaps of many years) can no longer benefit from your assets and other entitled (as determined not by you but by Law) beneficiaries legally enforce the sale of your assets to take their inheritance.

There are many more and each one brings hardship which you could have avoided by:

  1. Making a Will, simply put don’t die intestate
  2. Using Trusts to protect assets and ensure nominated beneficiaries benefit
  3. Use Lasting Powers of Attorney to ensure your matters can be handled by people you trust
  4. Planning how to grow your assets so your residual wealth is healthy

Family Asset Protection Trusts

  • Assets available for your use during your life
  • Protects assets destined for grandchildren being diverted by divorce and remarriage
  • Protects assets against care home fees
  • Saves legal fee costs
  • Protects assets in the event of bankruptcy
  • Protects allowances for disabled offspring

Contact us

At Protego-te we offer all of these services; why not contact us for a free review?