People are living longer in the UK
The number of people reaching the age of 100, according to Office for National Statistics figures for 2015, has dramatically increased over the last few decades and is now at 14,570.
This is a 65% increase over the last decade.
There were also 850 people reaching the age of 105 in the past year, compared with just 130 thirty years ago.
People are now undoubtedly living longer with the average life expectancy at 79 for men and 82 for women. Careful thought therefore needs to be given to how we, or our loved ones, will manage in our old age.
Number of centenarians in the UK, 1985 to 2015
Source: Office for National Statistics, National Records of Scotland, Northern Ireland Statistics and Research Agency. Licensed under the Open Government Licence v.3.0.
How can Lasting Powers of Attorney help?
Lasting Powers of Attorney allow you to appoint Attorneys to assist you in managing your property and finances when the time comes that you require assistance or lose capacity to manage matters yourself.
Putting a Lasting Power of Attorney in place at an early stage provides reassurance that your finances can be managed, when the time comes, by people you trust without an expensive application to the Court for a Deputyship Order having to be made.
The ability to include replacement Attorneys should an Attorney die or become unable to act means you have reassurance someone can step in without the expense of further documents needing to be prepared.
Making Your Will – Why Use a Solicitor?
Now that we are living longer there is a greater need to make an effective Will. It is entirely possible that parents could potentially outlive children, or die when their children are also well into their elder years and perhaps not in need of an inheritance.
Having a Will professionally prepared means you can:
- get expert advice on the options available
- ensure your estate goes where you would wish it to
- make provision for what should happen if any gift should fail
- significantly reduce the risk of leaving a Will that is difficult or costly for your executors to administer
For advice and information on Lasting Powers of Attorney or Wills, please contact us.
Please note the above is for information purposes only and is intended to be a short summary. It should not be treated as a comprehensive guide and should not be acted on without qualified legal advice.
