Long Term Care Planning

For those unfortunate enough to not be in a position to care for themselves due to disability or old age, there may be a requirement for specialist accommodation or care, which usually comes at great expense and can be financially unattainable for many.

In order to make the prospect of needing specialist care more realistically affordable, there are a variety of solutions that can be explored. The options available to each individual will be dependent on their financial situation and available assets, but some forward planning for these eventualities can make a big difference to the choices on offer.

Lasting Power of Attorney (LPA)

These are legal documents arranged via a solicitor that provide an individual with the power to make medical and financial decisions on someone else’s behalf, when there is a likelihood that that person will, become unable to make financial and/or medical decisions for themselves in the future. The Attorney is usually a member of the family or close associate.

LPAs must be arranged whilst the individual in question still has mental capacity, but in the event that mental capacity is subsequently lost, the Attorney will have the legal right to make decisions for them.

Lasting Power of Attorney is not part of the Quilter Financial Planning Limited offering and is offered in our own right. Quilter Financial Planning Limited accept no responsibility for this aspect of our business.  Lasting Power of Attorney is not regulated by the Financial Conduct Authority.

Pensions and Divorce

Pension savings accrued during a marriage can be taken into account within divorce settlements. This usually occurs when the retirement savings strategy for a couple has been based on one partner working and making contributions towards an income that will be shared later in life.

In situations where a pension becomes an asset within divorce proceedings, there are a few different options for how the pension savings or income can be split. The method used will depend on the individual case, but the most popular way is usually a pension sharing order, which separates the pension pot into the agreed proportions and reallocates the relevant sum from the pension holder to the divorcing partner.

This area of financial advice requires specialist advice and support from a solicitor.

The value of pension and the income they produce can fall as well as rise. You may get back less than you invested.

Investment Strategies

The value of investments and the income they produce can fall as well as rise. You may get back less than you invested.

Tax treatment varies according to individual circumstances and is subject to change.

We make investment recommendations on the basis of either using an Active or Passive management approach. The decision for this is always reached after having had a detailed conversation with the client about which they feel is most appropriate for them. Each of these options are considered to have benefits and drawbacks.

Active: These funds are managed with the goal of outperforming equivalent funds in the market. The investments held within them are closely monitored and constantly altered in line with movements in the market.

+ Pros
• This management style is generally accepted to deliver stronger growth opportunities over the long term.

– Cons
• They are more expensive to hold than non active funds.

Passive: These funds are not monitored closely and are designed to track the performance of an index, such as the FTSE 100.

+ Pros
• The management costs are lower than those of an actively managed fund.

– Cons
• The long term performance is usually weaker than an actively managed fund.

Tax Efficient Growth

Making contributions into pensions and investments can provide legitimate opportunities for tax savings; once the funds have been invested, they will hopefully grow over time.

Please contact us to find out more about suitable ways that we may be able to help you.

The value of pensions and investments and the income they produce can fall as well as rise. You may get back less than you invested.

Tax treatment varies according to individual circumstances and is subject to change.


The effects of Inflation on the value of money is a concern for many people. When formulating a financial plan for our clients we always factor in for increases in the cost of living over time via our cash flow modelling tool so that any target fund size or income figure aimed for is as realistic as possible.

Useful Resources

Managing your money

Money Advice Service –
Pension wise –
Workplace Pensions –

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