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FT Guide to Wealth Management by Jason Butler

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16

Later life planning

As identified in Chapter 3, we are all living much longer and the outlook is for life expectancy to continue to increase, but perhaps not at the same rate is it has over the past 30 years or so. Increased life expectancy, however, also brings with it a multitude of issues that may have a bearing on your own wealth planning and possibly that of your parents or relatives.

Dementia is one of the main causes of mental incapacity in older people in the UK, affecting about 750,000 people and this number is set to rise to over 1 million people by 2025. The chances of suffering dementia increase significantly with age and roughly double with every five-year age group.

Power of attorney

A lasting power of attorney (LPA) is ...

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