It won't happen to me..

Understandably, many people have difficulty in considering their wills because they don’t want to think about the prospect of them dying. However, in reality we know that death is a fate that will come to us all and so reluctantly consider our wills.
Almost as scary is the prospect of losing mental capacity in later life. It is easier to close our minds to the prospect using the old adage “it won’t happen to me”! Making provision for someone to look after your finances and personal welfare in circumstances where you have lost capacity is essential and a godsend to those who are given the task of dealing with the situation.

It is a fact that we are living longer, great. But with this comes the possibility of diminishing physical health and mental capacity. A further complicating factor is that often the diagnosis of dementia is missed. A recent study by the Alzheimer’s Society shows great variations across the country of those having the disease being diagnosed. The suggestion is that half a million people are living with dementia but have not been correctly diagnosed. The concern that the Alzheimer’s Society has is that unless there is a diagnosis, patients will not receive the support that they need.

There are numerous aspects to reports relating to mental incapacity. The projections of how much longer we will live or the number of people living with mental incapacity seem to be on the increase and go to show that we must all make provision for later life. The one question that we should all ask ourselves is: Who will make decisions for you if you are unable to make them yourself?

Putting in place a lasting power of attorney giving an authority to someone to look after your finances and also your personal welfare should be something that we should all do. Like insurance policies, we hope they will not be needed in the future but if they are, they are a godsend.

Shaun Parry-Jones, Partner, Hart Brown

Mental Incapacity

The Daily Telegraph reported on the 10 November that “the number of elderly people with dementia will increase by 70% to more than 1 million in the next 20 years”. The statistic is quoted from the National End of Life Care Intelligence Network, which is an NHS programme. The number of those people who suffer dementia and are unable to look after their own affairs due to mental incapacity is not included. Add to that number those who lose capacity through illness or accident and the figure becomes ever greater.

If anything were to prompt individuals into making provision for the loss of mental capacity through accident or the onset of age, statistics such as these surely must. By putting in place a lasting power of attorney, you are able to appoint someone to look after your affairs should you not be able to do so. You can appoint an attorney to look after your financial affairs and also to assist with decisions relating to your personal welfare.

Everyone should considering making provision for mental incapacity and it is never too early to do so.

We all hope that we do not lose mental capacity but if we do, having made provision is an absolute relief for those who have to pick up the pieces.

Find out more about mental incapacity

Read more about the author of this article: Shaun Parry-Jones