Citywealth quotes Sally Ashford on the challenges faced by ageing parents with adult children who have mental or physical health issues
In an article for Citywealth, Sally Ashford, Partner and Head of UK Private Client, highlights the challenges faced by ageing parents with adult children who have mental or physical health issues, noting the lack of legal standing parents have in supporting their children and the need for protective measures.
She emphasises the importance of legal documentation, such as Lasting Power of Attorney and Wills, and practical support to safeguard both the children's and parents' interests, advocating for early intervention and professional advice to ensure long-term care and protection.
Sally says:
I have had two separate clients recently who have come to me because they are worried about their (adult) child’s ability to manage if they were to die due to mental health issues in one case and physical health and possible capacity issues in another. In both cases, the parents were helping their adult children financially and practically but with no actual legal standing to do so. It was fine while it worked from a practical level but there were no precautions in place to protect the child who in both cases was vulnerable to influence or abuse and the parents were approaching old age and finding it also hard to cope with. They were looking for answers to make sure their child was going to be okay, but they had also forgotten to look out for themselves in the process.
She adds:
The situation is difficult because there is almost an embarrassment in sharing the issues with others, so they are feel very alone. In both cases the parents were in their 70s and the children in their late 30s to 40s. It had taken a long time for them to pluck up the courage to do something about their worries. It is as if they feel they should be able to cope with it all because it is their child. The pinch point often comes when the parent is ill, it brings into focus what will happen when they are not there to pick up the pieces. Then they worry who will look out my child if I am not able to?
In terms of protection for adult children, Sally continues:
The advice is a mix of legal paperwork LPAs (Lasting Power of Attorney) and Wills, if possible, for the child, but thinking through how best to approach it with the child, do we need capacity assessments, and who can represent them if there may be a conflict? Then there is the practical advice about getting support with day-to-day admin and making sure that perhaps further funds are not placed within the child’s control if there are worries about how they may be used.
"Then we also need to look at the same for the parents, making sure there is protection for the child going forward, perhaps looking at the use of trusts in lifetime and on death. Exploring who could help outside the family or professionals if no one else is around. And generally, just reassuring them that they are right to ask for help, and not alone in their struggles.
Read the full piece in Citywealth here.
