People in retirement face a phenomenal crisis in later life
A recent report from Zurich estimates 345,000 over 65s will fall foul of not having a a Lasting Power of Attorney in place which will prevent them from obtaining financial help should they become ill or lose mental capacity.
Without nominating an Attorney to make decisions on health and welfare and financial matters, the Court of Protection would have to become involved should the individual no longer be able to make decisions themselves.
Having an LPA has become even more important since recent pension reforms were introduced.
Many people are now having to make financial decisions well into old age when the risk of strokes and dementia for example are significantly increased. However many over 65s are totally unprepared for a sudden illness or chronic degenerative condition developing.
It is essential that LPAs are set up well before they are needed and IFAs and other financial institutions should be giving their clients this advice.
Thy Will Be Done will provide a FREE UNREGISTERED HEALTH AND WELFARE LPA together with A FREE ADVANCE DIRECTIVE when you purchase a LASTING POWER OF ATTORNEY for Property and Finance.