Most people are leaving their future to chance, warns study
More than a third of people in Britain admit to not having made any provisions for later life such as writing a will or creating a lasting power of attorney (LPA).
Research suggests that as many as 12 million people in the UK, who are at relatively-high risk of losing their mental capacity, have not planned ahead to ensure their wishes are followed.
Many people who are over 65 think that if something happens to them that means they can’t make their own decisions about issues including property, healthcare, finances or personal care their family or friends can simply take over but this simply isn’t true.
While genetics and lifestyle seem to play a part, experts at Alzheimers Research UK warn that the single biggest risk factor for dementia is age. Put simply, the older you are, the more likely you are to develop dementia. Around two in 100 people aged 65 to 69 years have dementia and this rises to 19 in 100 for those aged between 85 and 89.
If you have no lasting power of attorney (LPA) in place you will not be able to make the decision yourself as to what will happen to you should you lose your mental capacity and those you care about may find themselves arguing in court to be able to help you.
Despite the at-risk population running beyond the ten million mark, fewer than 1m LPAs have been registered which means that most people are unprotected should they lose their mental capacity.
If you are in a high-risk category, or if you have simply reached 65, it’s a good idea to grant a lasting power of attorney now to someone you trust so they can act on your behalf when you’re no longer able to make decisions at the time they need to be made.
Hine Downing can help you to create your lasting power of attorney and ensure it is correctly filed so that you don’t have to worry about what will happen to you should the worst happen.