Advising an ageing population (2): The role of LPAs as Brits get older

Dementia diagnoses on the up

clock • 8 min read

Rising life expectancy has profound implications for retirement planning and LPAs have a crucial part to play. However, their introduction into a financial plan can make for considerable financial – and ethical – questions to be asked…

A growing proportion of people reaching retirement age are likely to be suffering from illnesses that mean other people need to manage their financial and health affairs. This means Lasting Power of Attorneys (LPAs) may become increasingly important arrangements for families and their financial affairs. With money an emotional subject for many, the contracts can complicate adviser-client relationships and have knock-on effects to intergenerational strategies. A report by the Alzheimer's Society estimates 1.6m people will have a dementia diagnosis by 2040. Clearly, the need for LPAs is in...

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