Why Making a Lasting Power of Attorney is important now more than ever?
It is estimated that more than half of the UK know someone who has dementia. It is also often assumed that dementia is only for the elderly, however 5% in the UK are under the age of 65 and this is set to rise over the next decade.
It is also often assumed that a next of kin or a loved one would always be able to help deal with the affairs of someone living with dementia.
However, this is not the case.
It is also not limited to dementia and losing capacity. Even if for a short period of time you were unable to look after your own affairs whether that is through a physical injury or a temporary hospital stay, your loved ones would be unable to access your bank account, settle liabilities or make decisions about your health and well-being.
It is therefore vital to make both property & financial and health and welfare lasting powers of attorney. It gives you control now to decide who you would want to look after your affairs if you were unable to do so yourself.
Without this in place, your loved ones may have to apply to the court of protection for a deputyship order whereby the court would decide instead who looks after you. This is not only timely and expensive but takes away your autonomy to decide who that would be.
Should you wish to find out more about Lasting Powers of Attorney, please do not hesitate to contact us.