Alzheimer’s Awareness Month
World Alzheimer’s Day is on the 21st of September and is part of Alzheimer’s Awareness Month which takes place throughout September.
How Does Alzheimer’s Affect You?
Alzheimer’s is a form of dementia. This is a disease that affects the functioning of the brain.
One in two of us will be directly affected by dementia, whether that be caring for a loved one or being diagnosed with the condition ourselves.
Getting the diagnosis early and understanding the type of dementia the person is living with can really help them to maintain independence for as long as possible and to feel supported.
What Can I Do To Help Someone With Dementia?
If you believe that someone may have the signs of dementia, then it is important to approach the GP as soon as possible to confirm a possible diagnosis and to get the help they need in place at the earliest opportunity.
How Can I Plan For My Future?
As dementia is becoming increasingly more common it is important to plan for a time where you may not be able to manage your own finances or make decisions that relate to your health and welfare.
Ideally, this should be done well before dementia becomes a risk factor, but we appreciate that this isn’t always the case.
Preparing Lasting Powers Of Attorney
It is important for everyone, no matter their age, to consider preparing Lasting Powers of Attorney.
Lasting Powers of Attorney are the legal documents that need to be in place to allow others to make decisions on your behalf in relation to your finances and health i.e. selling a house to pay for care, managing bank accounts and pensions, and making decisions about where you should live, the care you should receive and potentially, questions about life sustaining treatment.
Unfortunately, if someone loses their mental capacity and therefore the ability to make decisions for themselves then a lengthy and costly court application may be needed if there are no Lasting Powers of Attorney in place.
Prepare Or Review Your Will
Sadly, dementia isn’t curable and will eventually result in death.
You should therefore also be thinking about preparing or updating your Will to ensure that your loved ones are provided for and that it still reflects your wishes.
Wills can be used to protect assets for children from previous relations, against the re-marriage of a surviving spouse and/or against the long-term impact of care of a surviving spouse.
You may therefore wish to think about preparing Life Interest Trust Wills.
Is There Anything I Should Not Be Doing Following A Diagnosis Of Dementia?
Yes!
Do not start giving your assets away to avoid them being used to pay for your future care.
Often clients ask me whether they can transfer their property into the names of their children or put it into trust during their lifetime, but this is not a good idea for a number of reasons. One of them being ‘deliberate deprivation of capital’.
Giving away assets in this way to avoid paying for care would be considered a ‘deliberate deprivation of capital’ and the local authority may still treat you as owning the asset when they come to assess your contribution towards your care.
How Can Timms Help?
If you have any queries regarding this article or any other matters relating to Alzheimer’s or Wills & Probate, please don’t hesitate to contact me at c.day@timms-law.com or on 01283 214231.
Alternatively, you can visit the Wills and Probate page of our website here.
August 2024