Octopus Investments is to partner with the Society of Later Life Advisers (SOLLA) to host a series of seminars for advisers to help them understand the risk associated with the different legal and financial issues that may arise when helping an elderly client plan for later life.
Entitled ‘Whose risk is it anyway?’, the seminars are to be held at different locations across the UK in October and November and are aimed at those working with elderly clients and in particular, cases where an attorney or deputy has been appointed.
Attendees will hear from speakers from SOLLA and Octopus who will help to guide them through the difficult and sometimes controversial issues around risk profiling in estate planning, and the practical aspects of decision making on behalf of others.
The interactive workshops will contain a strong legal element, with case law and comments prepared by Tish Hanifan, joint chair at the Society of Later Life Advisers and a Barrister who specialises in older client matters. There will be a particular focus on addressing the legal and financial considerations of working with clients who have potential capital gains tax or inheritance tax issues.
Hanifan says: “Many financial advisers either already work with other professional advisers, such as solicitors and accountants, or are looking to do so. These SOLLA seminars in conjunction with Octopus will ensure that they have sufficient understanding of the legal aspects involved to be able to integrate their advice effectively.”
Mark Williams, business line manager for inheritance tax (IHT) solutions at Octopus, says: “Dealing with important financial issues in later life can be a tricky subject for many elderly clients and their families. Understanding the risks and decisions associated with estate planning can be difficult and sometimes emotional for those involved, which is why we’re keen to help advisers understand some of the tools at their disposal for addressing their clients’ problems as effectively as possible. It’s important that advisers are equipped with the knowledge and expertise to help them develop the right financial plan for their clients. Understanding the full range of options available to clients is key to advisers being able to confidently recommend estate planning strategies to overcome what can often be quite complex problems. These seminars aim to ensure that advisers are in a strong position to do that.”
Advisers attending the seminars will also look at different case studies to bring the issues to life and help them to further explore and understand the risks and considerations that can arise when helping clients plan for later life. They will also receive full course notes to consolidate and expand on the day's learning.