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Experts unite on financial planning.

TWO Teesside entrepreneurs have joined forces to help businesses and families with their financial planning.

Solicitors Stephen Gibbens and Rosemary Young will launch Trustlaw Solicitors this week, offering advice on finance management, estate planning, elderly client matters, wills and probate work.

Between them they have 30 years' experience of the financial services industry and have taken on two staff to share the workload. They expect to recruit more staff this year.

Young, the first female president of the Tees Valley Law Society, spent several years at Teesside law firm Jacksons specialising in estate planning work.

The 59-year-old had the option of going into retirement but chose instead to start a new career with Trustlaw - which will operate independently of Gibbens's other venture, Trustlaw Financial Services.

She said: "In recent years I've found that more and more of my clients need expert financial advice as part of their estate planning. The two are inevitably intertwined.

"Nowadays if you want to put provision in place for long-term care should it be needed in the future, you also need to think carefully about how that care will be funded."

There are fears that workers are not putting aside enough money to pay for their care in old age.

Gibbens said most families could avert a funding time-bomb, though, by planning for retirement early.

He said: "At a time when many families are having to make their savings work harder for them, or are facing the challenge of working out how to pay for care as they get older, we see a real need for a service that brings it all together."

Gibbens, who is also an independent financial adviser, launched Trustlaw Financial Services in Thornaby 10 years ago, providing advice on trusts, tax and financial investments.
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Title Annotation:Business
Publication:The Journal (Newcastle, England)
Date:Mar 29, 2011
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