Most people know they should write a Will - but are Lasting Powers of Attorney even more important?
If a person dies without a Will, that causes extra stress, difficulty and costs for their family, so it's not ideal. However, the law says what should happen to a person's money and property if they die without a Will. It'll be stressful, maybe not everyone will be happy - maybe no-one will be happy - but after a year or two, it'll be sorted, one way or another.
However, if someone were to lose mental capacity - and not just to dementia, perhaps due to an accident, which could happen to any of us at any age - their family could suffer years, if not decades, of navigating the Court of Protection and Social Services, trying to get the power to manage their loved one's care and finances.
This would obviously be costly and stressful, and they may not even gain the powers they need. Even if they do, what happens to their loved ones in the meantime?
Lasting Powers of Attorney give you peace of mind that if you did lose mental capacity for any reason, at any age, your loved ones can help you the way you would want. Which is a great gift for them at a horrible time of their lives, too.
Stephen Thrift
Lakes Wills Ltd
07795 661719