Elderly Client Services

OLDER CLIENT LAW – LIVING WILLS, POWER OF ATTORNEY & TRUSTS BOURNEMOUTH

Different considerations and outlooks on life apply as we all get older and law is no different. This is why Bournemouth solicitors offer specific services aimed at protection and planning of legal affairs for older clients. Our aim is simple, to develop a relationship of trust so that our clients don’t need to worry and that their legal affairs are in order to enable a long, enjoyable and above all stress free retirement.

What we offer for clients in Bournemouth

  • Estate and tax planning through wills, trusts and lifetime gifts
  • Advice on and preparation of Powers of attorney
  • Court of Protection services and advice
  • Family trusts
  • Living Wills
  • Advice on asset retention  in the event long term residential or nursing care is required
  • Care home contracts
  • Equity release
  • General advice on Mental Health laws
  • Action in relation to allegations of abuse or unlawful behaviour towards the elderly or vulnerable

Types of Lasting Power of Attorney

Lasting powers of attorney are becoming increasingly used, so it is worth being aware of the 2 basic kinds :-

  • Property and Affairs LPA – enables the attorney to make decisions limited to finances and business matters.
  • Personal welfare LPA – enables the attorney to deide about health and personal welfare,

Use of trusts in protecting assets

There are a variety of trusts which we can assist with, the most ofetn chosen are :-

  • Life Interest Trusts
  • Discretionary Trusts

Please contact us to discuss how we can help you, we are the local lawyers for Bournemouth.

FAQs about:
Elderly Client Services

THE DUTIES OF TRUSTEES OF DISCRETIONARY TRUSTS

  • The most important duty of a trustee of discretionary trust is to perform the terms of the trust and distribute the fund amongst prospective beneficiaries.

  • These trusts have the advantage of flexibility as the trust only defines a possible class of beneficiaries. It is the trustee responsibility to decide who is to benefit and on what terms.  The trustees can select one or more of the possible beneficiaries. This decision may be delayed for years.

  • Until the trustee selects a beneficiary, the individual may only have a hope that he will be chosen. Therefore it is the trustees’ duty to conduct a survey of the range of the potential beneficiaries. The trustee must take into account each member of the small class separately before allocating the funds.

  • However, if the class is large, then this is not possible and the trustees have less difficult duty to perform.  They must take into consideration the size of the fund and the number of potential beneficiaries.

  • In McPhail v Doulton [1971] AC 424 Lord Wilberforce stated that trustees must ‘make such a survey of the range of objects or possible beneficiaries as will enable them to carry out their fiduciary duty.’

  • The trustees are not allowed to distribute the trust fund to individuals outside the class of beneficiaries. Failure to do so by the beneficiaries will result in breach of trust and the court will hold such allocation void.

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