Client’s Situation:
Mrs P contacted us in 2016 in her capacity as the Attorney for her elderly aunt, who had recently moved into a care home.
Client’s Objectives and Needs:
As her Attorney, Mrs P wished to consider how best to use her aunt’s assets to fund her care costs, including the sale proceeds from her aunt’s property.
Actions Taken:
We met with Mrs P to consider in detail her aunt’s income, expenditure and assets as well as her projected ongoing care costs, whilst also discussing her aunt’s health and medical conditions and any State support to which she would be entitled.
Using the information provided, we produced a Long Term Care Planning Report which we presented to Mrs P.
Solution:
In order to enable Mrs P to make an informed decision on how to proceed, the report described her aunt’s situation, the main options for funding her care fees, including the use of Cash Flow Forecasts to demonstrate how the different options would affect the ability to fund the care fees over different time periods and our advice as to which of these options would be most appropriate.
Outcome:
The report provided Mrs P with a clear understanding of the options available to fund her aunt’s care fees, which enabled her to structure her aunt’s assets to potentially provide for her aunt’s needs for the rest of her life. This also gave Mrs P the comfort of knowing that she had made appropriate decisions for her aunt should she ever be challenged on the decisions that she had made.