Mr & Mrs Holland
I have known Mr & Mrs Holland since 2003, a retired couple from Ealing, London. I first provided financial planning advice to Mr & Mrs Holland shortly after Mr Holland sadly suffered a stroke, however he was still mobile. Over two decades, my professional relationship with Mr & Mrs Holland developed. Mrs Holland was put at ease knowing she could easily call me if she had any concerns given that her husband, Mr Holland, was in a vulnerable position having subsequently been diagnosed with Parkinsons.
A familiar challenge:
Mr & Mrs Holland’s needs evidently began changing as they got older, with Mrs Holland desperately in need to write up a Will when Mr Holland’s health took sudden turn. I supported Mrs Holland using my extensive professional network and recommended to her a fully qualified Will Writer, who helped them write their Wills, in line with their wishes. Mr Holland sadly passed away not too long after.
A few years later, I received a call from Mrs Holland’s son, informing me that she had a fall, and wanted to have a conversation with myself. On my visit to Mrs Holland, her situation was a lot more serious than expected, where she was completely immobile, and in need of constant carer support. Mrs Holland could speak, and was pleased to see me on arrival, although her two sons were incredibly worried of her condition.
Both Mrs Holland’s sons were concerned on how they could financially provide for her care and adapt her property to her changing needs.
A professional approach:
Under the realms of Data Protection, I asked Mrs Holland if I had her permission to disclose her investment portfolio while both her sons were present, to which she agreed to. To both her sons’ relief, there was an instant alleviation of pressure and stress from their faces, they discovered they could afford to care for their mother in the manner she deserved.
They were in need to encash some of Mr & Mrs Holland’s investments to adapt her current property for her care, but due to Mrs Holland being physically immobile she could no longer sign the documents to put this in place. Thankfully, I had previously recommended for Mrs Holland to draw up a Lasting Power of Attorney document for both her financial affairs and welfare, so that a chosen representative could manage her affairs should she no longer be able to. However, she could not find these documents.
It was suggested that Mrs Holland could take The Court of Protection Order, however this would take up to 6 months or longer and incur additional costs, and during this time all of Mrs Holland’s accounts would be frozen, with no access.
Peace of mind:
Due to the desperation of this case, I personally called the solicitor who wrote Mr & Mrs Holland’s Will and Lasting Power of Attorney documents, to which she confirmed that she had drawn up both these documents. Mr & Mrs Holland’s solicitor managed to find copies of their Lasting Power of Attorney documents from the Office of Public Guardian, to which she passed on to Mrs Holland’s sons.
Success of outcome:
To the Holland family’s relief, Mrs Holland’s sons were now able to afford later life care for their mother by appropriately using her investments, and with the Lasting Power of Attorney documents in place, her sons were able to manage her financial affairs and care whenever she required it going forward.
Mrs Holland’s invested funds were more than sufficient to provide for her care until her passing.
“Hansa’s advice has been invaluable and helped myself and my brother manage my late mothers’ affairs. Hansa is always professional, and approachable. She is now advising myself, on how to best invest for my family. I would be more than happy to recommend Hansa.“
John Holland.
The advice provided to Mr and Mrs Holland was given after a full evaluation of their specific needs, circumstances and requirements and does not constitute advice.
Will writing and Powers of Attorney involve the referral to a service that is separate and distinct to those offered by St. James's Place and are not regulated by the Financial Conduct Authority.
