Last month saw the launch of a unique service for the so called “sandwich generation” – Elderflower will be a One Stop Shop to provide across the board specialist advice.

The launch event was a great success with around 70 of the leading professionals, charities and organisations coming together at Ridley & Hall’s offices in Huddersfield.

Elderflower has been created by Ridley & Hall LLP. It is an umbrella service bringing together respected and regulated professional firms in Yorkshire. These include solicitors, financial advisers and accountants. They are working together to provide top quality legal and financial advice for those planning for retirement or who are retired.

Elderflower brings together five well respected professional firms from the region; Ridley and Hall, Bell and Buxton, Sheards, Shore Stewart and UK Wealth Management.

It was the brainchild of Sarah Young, Managing Partner of Ridley and Hall Solicitors.

Sarah commented:
“There are specific financial and legal issues that concern older people. The so called ‘sandwich generation’ may have teenage or adult children, and grandchildren as well as elderly parents to care for.
Making a Will is an obvious step – though two thirds of people still do not make one, according to recent research.
Planning for old age can be a challenge. This is partly because of the different issues that arise. It is also because the time, effort and expense of seeing financial advisers, accountants and solicitors can induce inertia. Trying to get good quality, relevant advice from government departments or advisory services can be a struggle.

In these challenging economic times research evidence indicates that over 50s are at particular risk of both redundancy and becoming long term unemployed.

Michelle Mitchell from the charity Age UK says that the affects of long term unemployment on the over 50’s can be devastating arguing that people….…can be pushed towards early retirement, often with inadequate pension provision, leaving them more dependent on the state and unable to contribute to the economy.”
It is vital therefore to make the best provision possible for retirement.”
Some of the issues that Elderflower advisers can help with are:

• Finding out easily whether clients can save or invest their  money without fear of it all being used to pay for their care in old age.
• Considering a tax planning Will to save loved ones becoming liable to a huge inheritance tax bill after death.
• Advising about Lasting Powers of Attorney which enables someone they trust to look after a client’s finances if he loses mental capacity.
• Accessing expert advice on welfare benefits
• Buying, selling and transferring commercial and residential property as clients downsize
• Advice on equity release.
• Setting up a trust for children and grandchildren – this can be particularly important if, as all too often happens, they are caring for a disabled child
• Resolving disputes over inheritances.
• Divorce (which is rising in frequency in the over 60s)
• Court of Protection issues.                                                                                                                                                                                                                               • Preparing your business for exit
• Employment and age discrimination matters

Call 0843 2895160 to find out more about the service.