"There are a myriad of things that we don’t want to talk to our parents about no matter what age we are. However, there are some topics that need to be broached no matter how uncomfortable they are, including power of attorney. But it seems people are much more willing to talk about their latest illness as research shows that 39% of adults feel uncomfortable talking to their friends and family about power of attorney, jumping to nearly 50% for those aged over 55.* While over 60% of adults are willing to chat about their physical health, jumping to nearly 70% for those over 55.
"The government’s campaign to raise awareness and knowledge on power of attorney could not have come soon enough. There are large misconceptions over what people are allowed to do with and without a PoA. If you are married or in a civil partnership, you may have assumed that your spouse would automatically be able to deal with your bank account and pensions, and make decisions about your healthcare, if you lose the ability to do so. This is not the case. Without an LPA, they won’t have the authority. It’s also important to remember, when you appoint an attorney you give someone you trust the legal authority to make decisions on your behalf at some point in the future. Although upon registering a LPA, if you wanted you could allow the attorney to immediately start making decisions on your behalf, this does not have to be the case and an LPA can in essence lie dormant until such a time that you may need it.
"While, there has been about a 20% year on year increase in lasting power of attorney (LPA) applications from 2017 to 2018, there is still a large number of people who haven’t yet considered a LPA and need to. Particularly given that its estimated that 2 million people will suffer from dementia by 2051, according to the Alzheimer’s Society."
*Quilter survey conducted by YouGov of over 2,000 UK adults in October 2018