It’s never too early to plan for the future, but it can be too late
A recent study by the Solicitors for the Elderly (SFE) warns that a third of the UK population are not prepared for later life.
With improvements in health and social care as a society we are living longer and many recent studies have found the number of people developing dementia is on the rise. Despite this the number of people applying for Lasting Powers of Attorney is not as great as you may think. Over 12million people in the UK are over the age of 65, yet only 928,000 Lasting Powers of Attorney have been registered.
A Lasting Power of Attorney can only be made while a person has capacity and it allows that person to make decisions for them should they be unable to make those decisions. Without one, the decision can be taken from the hands of the family or they may face the expensive and sometimes lengthy procedure of applying to the Court for a deputyship order.
In addition to this many people are yet to make a Will or are in need of updating the one they have, nor have they made contributions towards a pension or saved for later life.
By writing a Will you can direct who will deal with your estate and who you would like your estate to pass to. In addition to this is can relive stress from loved ones after your death and they know they are following your final wishes. It is therefore not only important to make a Will but should your circumstances change to update it as well. We have previously blogged on this topic and you can find the article here : https://townandcountrylaw.legal/news/last-update-will/
We are not able to predict the future, but we can plan for it. Contact us today to find out how we can help.