It is a sad fact that many of us will at some point in time require assistance if we are unable to take proper care of ourselves or make day-to-day decisions. We are all living longer and by the year 2021 the number of people with dementia in the UK is expected to be in excess of 1 million. In fact 1 of 3 people die with dementia today.
A Lasting Power of Attorney empowers you to choose trusted family members or friends to help manage your property and finances and make decisions about your health and welfare at a time when you are unable to.
This is not something that happens automatically, far from it! So, what happens if you lose the ability to deal with your affairs or make decisions and you have not made a Lasting Power of Attorney?
- All your bank accounts are frozen (including accounts held jointly with someone else)
- You cannot claim on many of your insurances
- It will be a struggle to get hold of your State Pension
- Strangers may make decisions about your health care and welfare
- Deputies will be appointed to manage all of your affairs
The Court of Protection deals with the appointment of deputies, and this is an expensive process.
Unit 3 | Southview Business Centre | Tinwell Road | Stamford
PE9 2JL Lifetime Wills and Trusts Limited trading as Lifetime Solicitors is authorised and regulated by the Solicitors Regulation Authority. SRA No: 627258 Lifetime Wills and Trusts Limited is a registered Company no: 9520203. Registered office Unit 3, Southview Business Centre, Tinwell Road, Stamford, PE9 2JL.