People advised to 'establish lasting power of attorney'

People have been told that they should establish a lasting power of attorney, which could be a crucial move if they ever develop dementia in the future.

"Illness and dependencies can creep up very suddenly, and it can be very distressing for people and their relatives if they haven’t planned and aren’t sure what to do when they’re faced with an urgent need such as for care and support," Oliver Thomas, director of Bupa's UK care homes, told the Daily Telegraph.

He added that the majority of people will save money if they determine lasting power of attorney for both welfare decisions and financial issues at the same time.

This is essential as those who develop conditions like dementia may find that they can no longer make decisions about their own finances, so must make sure that someone is in place to do this for them.

If no one is selected, a person could find that their assets are frozen and handled by the Court of Protection, which could cause unnecessary stress for loved ones.

In addition, Mr Thomas advised that people should make a will. Doing so will mean that the likelihood of a dispute over a deceased person's estate occurring is reduced.

Published by Hannah Carr