As a nation we are all living longer but as a result, many of us will suffer from a loss of capacity at some point and become unable to look after our own affairs.
However, it’s not just illnesses that typically affect the elderly that can cause a loss of capacity. Accidents or debilitating illnesses can affect any of us at anytime and If it does, we are likely to lose control of our finances and it is wrong to assume that someone we know and trust would be able to take over automatically.
Did you know?
If you suffer a loss of capacity, the Court of Protection have a duty to protect vulnerable people and will often freeze all of your assets including bank accounts and even joint bank accounts with a spouse.
They will usually appoint a Court Deputy to handle your finances which means that not only is a stranger handling your affairs but, you will incur charges for them doing so.
Someone losing capacity has devastating affects on thousands of families every year when the problems could have been easily avoided.
As your Estate Planning Consultant, I view it as my responsibility to not only bring these sort of risks to your attention but, to also provide you with an effective solution that protects you.
To make sure that you and your loved ones are protected or, if you require any further information, please do not hesitate to contact me.