Resolutions – Planning for the future!
So January has come and gone, but have our resolutions gone too?
One resolution we are encouraging clients to make is to plan for the future and in particular preparing Lasting Powers of Attorney (LPAs).
Whilst we recognise that mental incapacity is a difficult subject and one that many do not wish to consider, according to the Alzheimer’s Society, there are more than 42,000 people in the UK under 65 with dementia. A shocking statistic which reinforces that planning is a must! We hear so many people say, “I’m too young for that,” or “I’ll consider that when I’m drawing my pension!” but this is the wrong approach. You need to be proactive, whilst you are in a position to do so.
Plan, take control and prepare an LPA, whilst you have the ability to decide who is to assist you and how you would like them to do so. This way your Attorneys can help with anything from selling your property, going to the bank and paying utilities to decisions regarding your health and welfare, such as where you will live.
Many people are frightened by the power that an LPA could potentially give to their Attorneys. However, there are safeguards in place, which enable you to decide as to when the LPA comes into effect.
Unfortunately, if LPAs are not prepared and an individual loses mental capacity, the only way family members or friends would be able to assist them is to apply to the Court for a Deputy Order. The process whilst necessary can be arduous and costly.
If you are ready to take control and utilise the tools available to you now then, please do not hesitate to contact us here at Penmans and we will be more than happy to assist you in the preparation of your LPAs.