Mother comes first - The importance of good legacy planning

dominik-lange-vuoiqw4oeli-unsplash.jpg

How can you ensure that the wishes of you or a loved one are carried out if you or they are no longer able to make their own decisions? Diane Bush of True Bearing Legal Services gives us some insight into why good legacy planning is essential.

My client approached me after attending a Pre-Retirement Workshop organised by True Bearing. Although he knew that retirement planning was something he needed to consider, a more immediate need was to discuss Legacy Planning for his elderly mother.

The Meeting

We met and the sons were present to discuss all the various options for this lady. She was keen to protect her two sons who both cared for her in different ways. One lived close by, while the other always helped her with her finances.

Her Worries

She had been widowed a number of years previously and hadn’t updated her Will for some considerable time. There had been several changes within the family, grandchildren being born was one of the key issues.

She wanted to ensure that “only her two sons - the boys” would inherit from her when she passed. She fully understood the concept of sideways disinheritance, which can affect so many families.

The Outcome

One key element was to consider Lasting Powers of Attorney for both Property and Affairs and Health and Welfare. This was paramount as she had fallen numerously and was still recovering. The option I recommended was for True Bearing Legal Services to provide a Full Legacy Plan to include a new Will, a Trust and both LPA’s.

The Future

Sadly, shortly after this the mother fell again, affecting her confidence. It was decided that she could no longer live independently and she needed full time care. The LPAs came into their own as the sons would now be her Attorney’s, so they were easily able to arrange her finances. They could talk to the financial advisor, ensuring her assets were still working hard.

Additionally, her home was rented out to provide income to help fund her care. Most importantly they were able to discuss with the care home to ensure that her needs and wishes were met.

The Final Outcome

All of this gave the whole family peace of mind that they could continue to do what was right for their Mum at all times. This also ensured that Mum was treated with dignity. Her wishes were both known, and carried out as a result of the Legacy Planning provision that had been implemented with the help of True Bearing Legal Services.

Good Legacy Planning is not just essential - it is priceless.

___________________________________________________________

If you would like to speak to one of the True Bearing Legal Services team in order to discuss any aspect of Legacy Planning then please call us on 01257 260011 or Contact Us. True Bearing Legal Services is not regulated by the Financial Conduct Authority.

 

Enjoyed this? Read more from Amber River True Bearing

Latest news

1

Construction begins on new Civil Service office building in Talbot Gateway Alan McBride Muse Will Town Defence Infrastructure Organisation Jennifer Chard Defence Business Services Cllr Lynn Williams Blackpool Council Garry Bowker Vinci

Construction begins on new Civil Service office building in Talbot Gateway

20 May 2025

2

Skiddle raises over £750,000 for charities Skiddle cheque presentation to Alder Hey Hospital

Skiddle raises over £750,000 for charities

20 May 2025

3

Former Victorian Hotel approved for residential conversion The site

Former Victorian Hotel approved for residential conversion

19 May 2025

4

REVOLUTION PARK: Work starts on Darwen’s new home of advanced manufacturing Oliver Webber, Tracy Clavell-Bate and Tim Webber from Barnfield Group with Cllr Phil Riley, second from right, Leader of Blackburn with Darwen Council

REVOLUTION PARK: Work starts on Darwen’s new home of advanced manufacturing

19 May 2025

5

Two Cuckoo Gins named winners in The Gin Guide Awards 2025 Mark Long

Two Cuckoo Gins named winners in The Gin Guide Awards 2025

19 May 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
LBV122 May/June Launch Event
121 Lancashire Business View Magazine Launch
Networking
21 May 2025

LBV122 May/June Launch Event

Lancaster and Morecambe College, Lancaster, LA1 2TY

08:30 - 10:30

Sub36 Networking
Networking
11 Jun 2025

Sub36 Networking

British Jewellery School, Scorton, PR3 1BA

15:00 - 17:00

Lancashire Net Zero Carbon Conference
Net Zero Carbon Social 1200pxtrident 2
Networking
18 Jun 2025

Lancashire Net Zero Carbon Conference

Crow Wood Hotel & Spa Resort, Burnley, BB12 0RT

08:30 - 13:00

Lancashire Built Environment Conference 2025
BEC 315 X 315 Px
Networking
25 Sep 2025

Lancashire Built Environment Conference 2025

Blackpool Football Club, Blackpool, FY1 6HX

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

RISE - The Academy for Female Leaders and Managers
WENDY BOWERS RISE Illustrstion copy.jpg.jpg
LBV Hub Seminars
02 Apr 2025 - 08 Oct 2025

RISE - The Academy for Female Leaders and Managers

East Lancashire Chamber of Commerce, Clayton le Moors, BB5 5JR

09:00 - 15:30

Preston Freelancer Meet-Up: May
Freelancer Meet-Up May.png.png
LBV Hub Networking
22 May 2025 - 22 May 2025

Preston Freelancer Meet-Up: May

society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Amber River True Bearing quarterly investment seminar
LBV Hub Seminars
22 May 2025 - 22 May 2025

Amber River True Bearing quarterly investment seminar

Cottons Hotel & Spa , Knutsford, WA16 0SU

16:00 - 18:00

The Business Network Central & East Lancashire
LBV Hub Networking
22 May 2025 - 22 May 2025

The Business Network Central & East Lancashire

Mytton Fold, Langho, BB6 8AB

11:30 - 14:15

Liverpool Business Expo 2025
https---cdn.evbuc.com-images-881365363-4862066883-1-original.20241023-085714.jpeg.jpg
LBV Hub Awards
23 May 2025 - 23 May 2025

Liverpool Business Expo 2025

Aintree Racecourse , Liverpool , L9 5AS

09:00 - 15:00

Advantage: AI – A Workshop for Business Leaders – May 29
Artboard 15.png.png
LBV Hub Seminars
29 May 2025 - 29 May 2025

Advantage: AI – A Workshop for Business Leaders – May 29

Door4 Office, Burnley Wharf, Manchester Road, Burnley, BB11 1JG

09:00 - 11:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV122 Online Graphic
Subscribe now

Weekly news bulletin