We all think “it will never happen to me” but dementia statistics make worrying reading. The Alzheimer’s Society report that over 537,000 people have a dementia diagnosis in the UK. However, it is believed that around 850,000 have the condition. It is estimated that 24.6 million people in the UK know a family member or close friend living with dementia. The number of people with dementia is expected to rise to 1 million by 2025 and 2 million by 2050.
If you lose mental capacity you will need someone or a number of people to look after your needs. Your needs will be split into two categories being a) Property and Financial Affairs and b) Health and Welfare. If you plan ahead and create the correct paperwork (Lasting Powers of Attorney) when you are fit and healthy, then if you do start to have problems with mental capacity later on, the people you have appointed to help you will be able to because they will have the appropriate paperwork authorised by the court.
If you lose capacity without the appropriate Lasting Powers of Attorney in place then your family will have to go to court and apply for a deputyship which is expensive and time consuming.
Casey & Associates has created over ten thousand Lasting Powers of Attorney for clients. We know the system and what additional clauses should be added to the Powers of Attorney to make things as easy as possible for your family if ever you do lose mental capacity.
Have you ever felt the frustration when a service provider says to you that “You are not the account holder so I cannot talk to you”? At the moment you hand the phone to your partner or spouse or parent and they then give authority for your service provider to speak with you. Such a situation is an inconvenience. However imagine if the account holder cannot give their permission because they have lost capacity. Without a Lasting Power of Attorney or Deputyship you are stuck.
If a loved one falls ill and you are concerned about them you cannot discuss the matter with their Doctor or health professional unless the Doctor or health professional has your loved one’s consent or you hold a Power of Attorney or a Deputyship order.
“It will never happen to me…”
If you would like to meet with one of our Consultants to discuss any of the issues raised in this article or any other Estate Planning topic please telephone 01732 868190 or click here. Don’t delay ~ Act today!