The number of applications for lasting powers of attorney (LPA), or living wills, has doubled in the last two years, according to research carried out by the Times newspaper.
It says half a million LPAs were set up last year by people seeking to protect their interests in case they develop illnesses like dementia at some point in the future.
LPAs, which are sometimes referred to as living wills, enable you to appoint someone you trust to make decisions on your behalf if you lose the capacity to do so for yourself. You can have an LPA to cover your financial matters or personal welfare issues, or both. The same person can cover both functions or you can appoint different people if you prefer.
It’s likely that the number of applications for LPAs will continue to increase over the coming years as the population ages and people become more concerned about their health and mental capacity.
The system is administered by the Office of the Public Guardian, which ensures safeguards are in place to protect your interests.
LPAs should be set up with the help of a solicitor to ensure they fully meet your needs.
Please contact us if you would like more information about lasting powers of attorney.