Age & Stage brings you practical guidance, expert help and inspiration to help navigate all aspects of elderly care and old age.
Presented by Age Space’s Annabel James and journalist & broadcaster Daisy McAndrew, we tackle a different subject every week in conversation with guest experts who each bring a wealth of experience and expertise.
Advising on everything from different kinds of care, funding care and legal things to consider, the practicalities of helping elderly parents and relatives remain living independently and safely at home, conversations about when to stop driving, getting a dementia diagnosis,the importance of a power of attorney; family dynamics, death and grief, and much more.
You can email the show at ageandstage@agespace.org, leave a WhatsApp message at 07982 360113 or record a voicenote here: https://www.speakpipe.com/ageandstage
Please share Age & Stage with a friend, or someone you know who would be helped by the information in this series. You can send them this link: https://pod.link/1798413657
Find out more about Age Space at www.agespace.org
Hosted on Acast. See acast.com/privacy for more information.
Age & Stage brings you practical guidance, expert help and inspiration to help navigate all aspects of elderly care and old age.
Presented by Age Space’s Annabel James and journalist & broadcaster Daisy McAndrew, we tackle a different subject every week in conversation with guest experts who each bring a wealth of experience and expertise.
Advising on everything from different kinds of care, funding care and legal things to consider, the practicalities of helping elderly parents and relatives remain living independently and safely at home, conversations about when to stop driving, getting a dementia diagnosis,the importance of a power of attorney; family dynamics, death and grief, and much more.
You can email the show at ageandstage@agespace.org, leave a WhatsApp message at 07982 360113 or record a voicenote here: https://www.speakpipe.com/ageandstage
Please share Age & Stage with a friend, or someone you know who would be helped by the information in this series. You can send them this link: https://pod.link/1798413657
Find out more about Age Space at www.agespace.org
Hosted on Acast. See acast.com/privacy for more information.
This episode is not intended as individual financial advice. You should always speak to an independent financial advisor.
Mel Kenny is a chartered financial planner at https://rad-new.com/ and a regional coordinator with https://societyoflaterlifeadvisers.co.uk/. He discusses the financial considerations for elderly individuals and their families. He emphasises the importance of soft skills in financial advice, such as listening and providing reassurance. Key topics include annuities, equity release, and trusts, which can help manage care costs and help decisions when it comes to a reliance on local authorities. Kenny also highlights the challenges of balancing financial planning with emotional needs, the role of SOLLA in providing accredited advisors, and the complexities of NHS continuing care. He stresses the importance of comprehensive financial advice that considers both financial stability and emotional well-being.
Get in touch with your comments & questions
Email: ageandstage@agespace.org
Voicenote: www.speakpipe.com/ageandstage
WhatsApp: 07982 360113
Share Age & Stage with friends & family: https://pod.link/1798413657
Age Space: www.agespace.org
Key points:
Explore annuity options to cover potential care costs.
Investigate lifetime mortgages as a way to access home equity without having to move.
Seek a care needs assessment from the local authority to determine funding support.
It is essential for the advisor to listen to clients and make them feel heard, which can make a significant difference in meetings.
The emotional aspect of financial advice should be considered and the importance of providing reassurance to clients and their families.
The 'Care Cap' was proposed as a solution to the challenges of long-term planning for care funding. This idea has now been scrapped and the focus is on the wider government review and plan, with some clarity coming in 2026.
There is an annual allowance for gifting money, along with other small transfers, but this is bound up in various rules and regulations which should be considered.
In what can be a confusing and changing financial world, the best advice is often to build up assets to a point where potential care needs can likely be covered.
Hosted on Acast. See acast.com/privacy for more information.