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.
Later life funding and financial advice for the elderly with Jane Finnerty, co-chair and co-founder of the Society of Later Life Advisors (SOLLA), a non profit organisation providing accredited training to IFAs who provide financial services to older people. They can be found at https://societyoflaterlifeadvisers.co.uk
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
Challenges for later life funding and finance
The historical focus of financial services didn’t account for the new phenomenon of living much longer into later life. With the increase in life expectancy and to allow for 30 years or more of funds, it’s important to understand the different income streams available, including pensions and home ownership.
Differences Between Regular and SOLLA-Accredited Financial Advisors
SOLLA-accredited advisors specialise in later life financial advice, going beyond general financial advice – and are trained to consider the specific needs of older clients, including cognitive decline and mobility issues, and can explain complex financial concepts clearly.
Navigating Financial Conversations with Family Members
Start having financial conversations with family members early. If a ‘Power Of Attorney’ document is part of the plan, it’s important to consider the right person to be appointed as the power of attorney. This power of attorney can also be accompanied by a ‘letter of wishes’ which, whilst not legally binding, helps explain the decisions made. A power of attorney isn't a 'free-for-all' to manage someone else's affairs and is often misunderstood.
Gifting and Equity Release
There are different ways to gift money, including gifting out of income. There are also benefits and risks to equity release and lifetime mortgages. It’s important to bring in specialist advice.
Annuities and Care Annuities
‘Annuities’ have seen a resurgence and might well be a consideration as interest rates have increased. Whilst there could be tax advantages to care annuities, once again it’s important to take regulated financial advice.
Paying for Financial Advice
Financial advice is valuable for everyone, not just the wealthy. The advice can help clients claim benefits like attendance allowance and be well worth the initial cost.
NHS Continuing Healthcare
NHS Continuing Healthcare offers some people free health and social care and is funded solely by the NHS. The assessment includes what help is needed and how complex, intense and unpredictable the needs might be. https://www.nhs.uk/conditions/social-care-and-support-guide/money-work-and-benefits/nhs-continuing-healthcare/
As always with money matters, it's important to seek financial advice.
Hosted on Acast. See acast.com/privacy for more information.