Lasting Power of Attorney is not just for the older generation

Lasting power of Attorney is not just for the older generation.


I’m 30 and I have one, the consequences of not having one in place are potentially catastrophic for your loved ones. It can be a very long, costly and stressful process with the Court of Protection.


Getting a Power of Attorney in place now avoids this from happening.


Many people are unaware that bank accounts can be severely restricted if the account holder loses their mental capacity for example from a stroke or even a serious car accident.
Many people associate having a power of attorney with the elderly, but in fact, anything could happen to anyone at any time during their lifetime.


Even if you are married, in a civil partnership, co-habiting, regardless of having a joint account, this can be frozen if just one of the two account holders is affected.
 
“It’s never likely to happen to me!”


Well, the statistics disagree. According to the Alzheimer’s Society, 225,000 people in the UK will develop dementia this year. That’s a staggering one every three minutes.


Another startling statistic, this time from Martin Lewis on the “This Morning” programme is that 1 in 3 people over the age of 65 dies from Dementia in the UK each year.
“I don’t need that, I’m still young’ is what many people say.

This is one of the most important decisions you'll ever make.

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Many people associate having a power of attorney with the elderly, but in fact, anything could happen to anyone at any time during their lifetime.
 
So how do you combat the devastating effect that incapacity has on a family?


If you don’t want the government to have full control over you, you can appoint a family member to make important decisions for you when you are unable to, the ONLY WAY of doing this is by getting a Lasting Power of Attorney.


There are two different types of Lasting Powers of Attorney, one that covers Finance & Property Affairs and another that covers Health & Welfare. They are both legal documents that enable you to appoint someone you trust to make certain decisions on your behalf when you are unable to do so.


The appointed person or persons can manage your finances for you, or make decisions relating to your health and welfare, should you reach a point where you are no longer able to make decisions for yourself.


For any additional information, contact The Will Associates today by calling us on 0800 9500 700 to arrange a free, no obligation consultation at a time convenient to you and your loved ones, in the comfort of your own home.