The number of people suffering with dementia in the UK continues to rise, with an estimated 850,000 people now living with this condition. As our population ages, this number is projected to double by 2040. It is therefore becoming increasingly important for families to consider proper Estate Planning following a dementia diagnosis to ensure that their loved ones’ affairs are in order and represent their wishes.
Receiving a dementia diagnosis marks the beginning of a progressive decline in mental capacity. This not only brings emotional distress but also practical challenges for families. Taking proactive steps to help loved ones organize their affairs and express their desires in a timely manner is crucial.
Our first suggestion is to make sure that your loved one has a valid Will in place. If they do, it is important to review the document and confirm that it still does reflect their current wishes. If not, consideration of a new Will application can be made and if there are concerns about their capacity to make decisions, a formal assessment can be conducted.
Another essential consideration is the establishment of Lasting Powers of Attorney (LPAs). For which there are two important types, A Property and Financial Affairs LPA allows a trusted individual or individuals to assist in managing the person’s financial affairs, including bank accounts, pensions, and property. This provides practical support and eliminates the need for a court-appointed deputy if the person loses capacity without any LPAs in place. An LPA for Health and Welfare is equally important, as it names attorneys to make decisions regarding the person’s health and care, such as determining living arrangements and consenting to medical treatments. This document only becomes effective when the individual loses capacity.
By seeking proper Estate Planning following a dementia diagnosis, families can not only bring peace of mind to their loved ones but also alleviate the burden on themselves as well. Hence being better equipped to manage the possible challenges.
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