Law firm urges individuals to review later life plans
Just one in ten people in the South East have drawn up plans to protect their interests should they lose capacity in later life according to a recent YouGov survey commissioned by law firm, Cripps.
More than 2,000 respondents across Britain were interviewed on the arrangements they had put in place for their future, with fewer than 10 per cent having put an Enduring Power of Attorney (EPA) or Lasting Powers of Attorney (LPAs) in place.
As a result, succession planning lawyer and eldercare specialist, Stephen Horscroft, is urging people to review their existing plans.
Stephen said: “Our survey has pulled up some worrying statistics. While 30% of our respondents had an up to date Will in place, a very small number have EPAs or LPAs. This means, should they lose mental capacity, important decisions cannot be made by those closest to them.”
Seventy-nine per cent of the respondents said that it is important that their wishes and feelings regarding their property, finances and healthcare decisions are acted upon should they lose capacity.
“This can only be achieved if the correct documentation is in place, is kept up to date and the attorneys are well informed” Stephen added.
To assist with this, Cripps has developed a unique mental capacity offering to ensure the correct documents are in place and key information is collated, documented, safely stored and shared with the appropriate people. This includes a ‘My Choices’ book which prompts individuals to consider and collate key information relating to their financial, medical and legal affairs (including details of their life history, preferences and beliefs), to ensure that those making decisions on their behalf are fully informed.
For more information on the ‘My Choices’ offering, click here.