How Can I Protect My Assets As I Get Older?

Growing older might be inevitable, but so too is the fact that we all handle it differently. For every proud member of the blue-rinse brigade, there's a cupboard full of anti-wrinkle cream and a hairdresser sworn to secrecy. While some bowl head-first into retirement, ticking activities off a carefully cultivated bucket list, others are eager to enjoy a slower pace of life. Elton John (76) just finished a five-year-long, 333-show farewell tour, Mick Jagger (79) may never stop.

Whether you're ready to put your slipper-adorned feet up, or planning on growing old disgracefully, it's common to have concerns about what will happen to your assets in your later years – particularly if you need to go into residential care – and on your death. Below, we consider some of the relevant costs and discuss possible strategies for managing your exposure.