It is an awful time when you watch the person you love slowly but surely slip away. I don't mean slip away into death but mentally slip away. They become forgetful then forget who you are, they randomly wander. This can be very distressing. This person could become a target and be financially taken advantage of.
Statistics are showing a higher number of people are living well into their 80's. However it has been stated that at least half of those who live to be 80 plus will develop some form of dementia or Alzheimer's.
I found this to be a scary statistic.
The only way to easily protect property and finances is by drawing up a Lasting Power of Attorney. I like to see this document as an insurance policy - you may never need it but if at anytime you do it is there ready to use.
The important thing to remember is this document can only be drawn up if the donor (the person making it) has full capacity.
There is a true yet awful story of Heather Bateman a woman (True Story of Heather Bateman) who had to battle with everyone to be able to have control of her husband's finances after he was left in a coma following an accident. It took 3 years for this to be sorted out. If her husband had made a Lasting Power of Attorney this wouldn't have happened.
So ensure yours and those around you have a Lasting Power of Attorney drawn up.
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