Conversations about getting old are still too hard for many of us to broach. A survey by Independent Age, a charity for older people, found two thirds of adults aged over 65 had never talked to their family about end-of-life issues. Either they didn’t want to face up to the possibilities, didn’t know how to start the conversation or didn’t want to upset their relatives.
Failing to plan could cause unnecessary distress and cost for your family and friends
Very few of us want to think about a time when we might lose our mental capacity – for example through dementia. Talking about what would happen and who would make decisions on our behalf may be one of the toughest conversations we ever have. But the hard truth is that anyone can lose their mental capacity at any time. Not just through dementia but through a range of other illnesses or injuries. If we talk about this in an open and timely way, we can take steps to ensure the right decisions can be taken by the right people at the right time. Failing to prepare will leave others having to gain permission from the courts to handle your affairs should the worst happen. That will mean unnecessary cost, unnecessary delay and unnecessary distress for them.
Protecting them from this with an LPA is quick, straightforward and relatively inexpensive
Quite simply, having a solicitor draw up a Lasting Power of Attorney means you can appoint someone you trust to make decisions on your behalf should you become no longer able to do so. With an LPA in place, the appointed person will be able to manage your finances and healthcare or medical issues for you if you can no longer do so. Without it, they may not be able to collect your income, have detailed input on your health and social care, claim your entitlements, or even pay your bills without permission from the courts.
Having an LPA means it will be the people you trust the most, not strangers, making decisions in your best interests. And, of course, it means you can make your own wishes and preferences clear in advance.
And while you’re at it, what about that will?
Just like having an LPA, preparing a will is essential to ensure your family and other interests are looked after in the future. It will also protect them from problems and delays when distributing your estate. Making a will enables you to establish who has legal authority to act on your behalf after your death. It is also an opportunity to review your financial affairs and take steps to reduce the impact of inheritance tax if this is relevant to you. Changes in inheritance tax from now until 2020 will have an impact on millions of people.
It may also allow you to fulfil other priorities, such as safeguarding property against the possibility of having to pay care home fees.
So don’t wait until it’s too late – have that talk today! Then call us to speak to an experienced solicitor and find out our fixed fees for drafting and registering Lasting Powers of Attorney and wills.