Our team of advisers recently had the pleasure of meeting with the UK’s leading support and research charity, Alzheimer’s Society UK. The charitable arm visited our Worthing office, to help raise awareness of Dementia. Our team heard about the impact of Dementia – from how it affects individuals and their families to the laws surrounding mental illness and the obstacles that people living with Dementia may have to deal with on a day-to-day basis. Alzheimer’s Society UK highlighted the importance of having procedures in place to enable vital decisions to be made, should the Dementia sufferer find themselves lacking ‘capacity’.

Dementia is a growing issue – with 850,000 people in the UK living with dementia today, and an expected one million facing the condition by 2025. Under the Mental Capacity Act 2005, an individual who is ‘unable to make a decision for himself in relation to the matter because of an impairment of, or a disturbance in the functioning of, the mind or brain’ is deemed as lacking ‘capacity’. That means these individuals have to rely on another individual to make important decisions on their behalf. Determining who is the most appropriate person to do this is key.

By setting up a Lasting Power of Attorney (LPA) individuals can protect themselves in advance of any future incapacity. If no LPA is appointed, anyone who feels they have the right to deal with your finances can make application to the Court of Protection to be your appointed representative. It is important to remember that this might not be the person you would have chosen.

An LPA can assist when you need a little help to retain control of your finances. It can also offer valuable peace of mind to you and your family.

We can assist with the completion of an LPA. For more information, or to discuss your circumstances in more detail do get in touch with one of our team of experts.

This entry was posted on Thursday, 5th November 2015 at 10:43 am and is filed under Estate Planning, Financial Planning, Inheritance Tax, News. You can follow any responses to this entry through the RSS 2.0 feed.

Tags: care, elderly, Financial, Planning