Whether through accident, ill health or simply old age it can become difficult or even impossible for some individuals to handle their own affairs. If this happens without having alternative arrangements in place, it can cause great difficulties for your loved ones.
This is because under the Mental Capacity Act 2005 no-one (including a husband or wife) can look after another’s affairs should they lose capacity. As you will probably know from personal experience, if your name isn’t on the bill or the bank account, no one will speak to you about it.
All too often families have no strategy in place to deal with the financial affairs of someone who is no longer able to do so, whether this be through a loss of mental capacity or otherwise.