Get a Lasting Power of Attorney (LPA):
By 2025, more than 1 million people in the UK will have dementia, according to the Alzheimer’s Society. One in five people over 85 already suffers from it
A lasting power of attorney (LPA) gives another individual the legal authority to look after specific aspects of your financial affairs or health and welfare should you lose the capacity to do so. It is not just for the elderly; younger people may become incapacitated through accident or illness.
If you do not have an LPA in place and later become mentally incapacitated, relatives may face long delays and expense in applying to the court of protection to get access and take control of your assets and finances.
By setting up an LPA you are thinking ahead of time to ensure that a trusted family member or friend can be in control of your estate providing you and your family with peace of mind.