Posted by Deanna Hurst, Partner
On 1 September 2016 Withy King LLP merged with Royds LLP. The trading name for the merged firm is Royds Withy King. All content produced prior to this date will remain in the name of the firms pre-merger.
Sizeable majority neglect Court of Protection
A new report has revealed that an overwhelming majority of adults have not made the necessary provisions for old age.
The latest research carried out by Solicitors for the Elderly (SFE) suggests that around 90 per cent of people do not have a Lasting Power of Attorney (LPA) in place.
This arrangement enables loved ones to act on an individual’s behalf in the event that they lose the capacity to make their own decisions (for instance because they have been diagnosed with dementia).
A clear majority of those surveyed admitted they would feel reassured if a relative or friend was able to deal with matters in these circumstances, but many were unaware that without making an LPA, matters may be left in the hands of the courts, social workers or third party solicitors.
It is also feared that those who believe they have put their affairs in order may still be at risk if they have not sought expert advice. It is estimated that over 75 per cent of those who have made an LPA did not seek legal guidance, instead turning to websites or non-qualified advisers. This could create problems if the proper procedures have not been carried out.
Lakshmi Turner, chief executive of SFE, said: “Most people assume that if they suffer an illness or accident, their next of kin will be responsible for vital decisions.
“The reality is starkly different – loved ones may not be able to make a decision on your behalf unless you have an LPA in place.
“An LPA is by far the most powerful and important legal document an individual can have.
If you have children, own a home, or have views on your preferred health treatment, we urge you to go to an expert to get the right advice.”