During emotional and difficult periods, thinking about finances often seems overwhelming. But there are measures you can put in place to make life a little easier. Is registering a Lasting Power of Attorney (LPA) the right decision for you? This can be very valuable as it ensures that if you are ever unable to make important decisions – like choices regarding your finances and welfare – they are made on your behalf by someone you know you can trust, like your son or your daughter. It can be very reassuring to know that your health and your estate will always be taken care of.
Handing over control can be a daunting prospect, but an LPA can provide some much-needed peace of mind for you, as well as your family. It’s only valid if you have the mental capacity to set it up, and you’ve not been pressured into doing so. Your solicitor or local advice agency can discuss your LPA with you and help you set it up. You can also now make, register or end an LPA online at www.gov.uk/power-of-attorney.
This option may not be relevant to you, and you might be ready to think about funding your care. There are many benefits, both means-tested and non-means-tested, that you may be eligible for to lessen the financial strain, meaning that you needn’t feel like you or your loved one have to miss out on high-quality homecare and support.