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 welafare at a time when you are unable to.
This is not something that happens automatically, far from it! Please see below for an example of the consequences of losing the ability to deal with your affairs, without making 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 and welfare
• Deputies will be appointed to manage all of your affairs
These deputies are appointed by the Court of Protection and appointing them is a very long and expensive procedure.
Contact us today to request a free consultation with an Acacia Wills Adviser in your area and find out more about the costs of not writing lasting powers of attorney, and how to write yours.
Please see http://acaciawills.com/lasting-power-of-attorney-articles/ for more information.