Margaret Thatcher was renowned for her intellectual capacity and her decisiveness in times of crisis. She encountered and dealt with many challenges throughout her political career. However, one battle she could not win was against the cruel disease of Dementia.
According to The Alzheimer’s Society, there are around 800,000 people in the UK with a form of Dementia and it is estimated that by 2021, this will rise to one million. Baroness Thatcher was diagnosed with Dementia at age seventy five and suffered the side effects until her death aged eighty seven. Symptoms include memory loss, confusion, mood changes and problems with communication. She frequently forgot that her husband had died and had to be reminded constantly by her daughter.
As this disease is progressive, there may come a point when sufferers will no longer be able to manage their financial and health affairs and may have to go into a care home. The Mental Capacity Act 2005 allows for people to choose someone to manage their finances and property if they become incapable as well as make health and welfare decisions on their behalf. This can be done by making a Lasting Power of Attorney. See our web page on Lasting Powers of Attorney for more detail.
Kerseys Can Help You
We can help you to put your financial affairs in order.
If you make a Lasting Power of Attorney an application to the Court of Protection for somebody to be appointed to manage your finances, property and health related matters, (both costly and time consuming) can be avoided. At the same time, you will have peace of mind that you have chosen the people you want to manage your affairs.
When making a Lasting Power of Attorney, you should also review your Will to ensure that it is up to date and reflects your current wishes. If you lose mental capacity, it will be too late to make any changes.
As is apparent from the case of Baroness Thatcher, Dementia can happen to anybody at any time, however research shows that the risk of developing the disease increases dramatically with age.
If you would like to discuss making a Lasting Power of Attorney or a Will, please call us on 01473 213311 and ask to speak to a member of our Private Client Team who will be happy to help you achieve peace of mind that you have put your financial affairs in good order.
Leila Murray | Associate Solicitor
Private Client Department, Kerseys