What we can help you with
- Care home contracts
- Practical advice when loved ones go into care
- Preserving assets
- Elder abuse advice
- NHS continuing care
- Lasting powers of attorney
- Court of Protection
- Equity release
We have Solicitors at our Kendal, Kirkby Lonsdale and Windermere offices who are either qualified members of STEP (Society of Trust and Estate Practitioners) and/or accredited members of Solicitors for the Elderly. This means that they have the necessary training and expertise to deal with the complex issues that can face the elderly and their families.
Our solicitors are trained to identify the needs of the elderly and vulnerable and provide practical advice that is in their best interests, whilst respecting their dignity and wishes.
Support and advice can be given to families who are going through challenging times with their older relatives. Decisions might need to be made about going into care and how this can be funded. If mental capacity has become an issue, is there a registered Lasting Power of Attorney in place, or does an application need to be made to the Court of Protection to appoint a Deputy? If funds are needed, Equity Release might be an option.
When making Wills for the elderly and vulnerable it is particularly important that we assess their capacity to make a Will and ensure that they understand the terms of their Will. We also take care to ensure that there is no undue influence being made on the elderly person and that there are no other signs of elder abuse.
Equity release is basically a life time mortgage secured on your home. Typically you do not have to make any repayments, but can if you can afford to do so. The interest due on the loan is added to the amount borrowed and paid off when you die, or if the property is sold sooner because you move into care.
You do not need to draw down on all the money at once, you might prefer to take smaller amounts when needed. Interest will only apply on the money actually drawn down, but you will have the security of knowing that you can call on further funds if needed.
There is a requirement that interest rates are fixed, or capped and various measures are in place to protect you. For example you are entitled to remain in the property for life, or until you move into long term care.
The amount you could borrow will vary and will depend on the value of your property and your age. Different lenders offer different terms, so it is important to take Independent Financial Advice.