Only Old folks and people that might get Dementia need a Lasting Power of Attorney!! WRONG!
You definitely don't need to be Old or suffer from dementia to require a Power of Attorney.
An accident! A bump of the head! A medical complication! Lots of things in day to day life could cause us to lose capacity. Then What?
Your loved ones or Family can't simply make financial decisions for you.
Losing your faculties when you're older seems to be a matter of life. Losing them when you're younger, and we are talking 20's or 30's, doesn't seem possible. Dementia or Alzheimer isn't the only cause of losing capacity. Falling down the stairs! A heavy blow to the head! A car accident! & other events can aid or cause us to lose capacity.
So....You're in your 30's, involved in a car accident and lose capacity! Without a Lasting Power of Attorney in place, what happens to your bank account? Who makes or changes Mortgage payments? There are a whole host of scenarios that if you lose capacity, your partner or spouse can't simply take over the running of your financial and or property affairs.
With a Lasting Power of Attorney in place, you and your spouse can act as an Attorney and steady the ship. If you haven't got a Power of Attorney, speak to one of our advisors. You may never need to use it and that's a good probability and a great scenario, However! If you do need one and haven't got one in place, it can be detrimental, it can take months to go through the courts and more importantly, it can cost a small fortune.