What happens if a loved one loses their marbles?
It is something that no one wants to consider, but it is estimated that one person every three minutes is diagnosed with dementia.
Without a Lasting Power of Attorney (LPA) in place, should this happen, your nearest and dearest will have to apply to the Court of Protection to be made deputies, to make decisions about care, accommodation and finances.
Appointing a deputy through the Court of Protection is a long, drawn-out process that can be expensive.
Many people wrongly assume that if they are married or in a civil partnership, any decisions regarding care, accommodation and finances will automatically be made by their spouse. Without a Lasting Power of Attorney in place, this is not the case.
So, how can a Lasting Power of Attorney help?
An LPA appoints someone you trust who can take care of your affairs should you be diagnosed with dementia, fall into a coma or suffer any other condition which may render you incapable of making decisions.
Although most people don’t think about setting up an LPA until they are faced with the problem, it is never too early to think about it. Remember you are only able to set up an LPA whilst you have mental capacity.