Since Leicester City won the Premier League with starting odds of 5000:1 it got us thinking about other unexpected events.
Trump being elected as President of the USA 26%
Having twins 3%
Winning the lottery 0.000007152%
Dying without leaving a Will 57%
Planning for the unexpected is what we do best at Lawson Lewis Blakers. We have discussed before the importance of preparing a Will (Click Here) but still, people find it becomes a stumbling block when arranging their affairs. We have noticed that there is also a general denial amongst us that one day we may not be able to manage our own affairs. However, statistics indicate that by 2025 there will be 1 million of us suffering from dementia. It is so important that we consider the consequences of us being one of those 1 million and prepare for the future by preparing a Lasting Power of Attorney (LPA).
An LPA is rather like an insurance policy. It is entrenched in all of us to sort out car and house insurance every year. We all hope that we will never call upon the insurance policy and yet we still prepare for the unexpected by arranging insurance for the "just in case scenario". Similarly, we all hope that we will die in our sleep at the sweet age of 95 , mentally capable, in our own home and with our family surrounding us. Sadly, for some of us, the reality may be very different. People tend to only start thinking about an LPA when it is too late to go ahead with one. We see so many people whose parent or neighbour is perhaps entering a care home and there is no authority to access funds and pay the care fees. We need to start planning ahead by preparing an LPA so that there is always someone else available who has authority to assist us in these difficult situations. The LPA makes it less stressful for ourselves as well as our loved ones who want to help us. An LPA is designed so that you can appoint an attorney or attorneys of your choice. It is flexible as you can include restrictions, preferences and guidance notes to your attorneys. It can be revoked, as long as you have the mental capacity to do so. As long as you retain your mental capacity you can carry on managing your finances for as long as you want to or are able to.
Furthermore, unlike the annual car and house insurance premium, there is only a one-off fee for preparing and registering the LPA. Once the LPA is signed and registered you can out it away and hopefully it will never be needed. But if the unexpected does happen, the LPA is there ready and waiting. Please see our fees page (Click Here) for more information on costs.
We may not be able to do anything about Trump being elected as the Republican President but we can certainly assist you with planning for your own future. Call us today for advice.
Lewes office: 01273 480234Eastbourne office: 01323 720142Peacehaven office: 01273 582680
One last statistic . Getting on a plane with a drunken pilot? 117:1