One person in the UK develops dementia every three minutes. Don't assume relatives can just walk into a bank and access your money, even if it is to pay for your care.
In order to look after you and your finances loved ones would need to apply through court, which can be long and costly process. A Lasting Power of Attorney (LPA) can help with this situation.
Talking about the future can be a daunting process but it’s a sad fact that some of us will succumb to Alzheimer’s, a Stroke or Dementia later in life. If someone has difficulties that mean they can’t make decisions anymore, they will need help. A Lasting Power of Attorney (LPA) is a legal document where someone (while they still have mental capacity) nominates a trusted friend or relative to look after their affairs if they lost capacity.
Your chosen representative should only ever make a decision for you if you’re unable to make that specific decision at the time it needs to be made.
By making an LPA you can nominate a trusted friend or relative before you lose capacity. You can appoint one or more representatives to act for you, and can determine how they work together to make decisions on your behalf.