Planning for the possibility of needing care can be daunting, but it also provides you with a sense of control and a chance to set out what your wishes would be.
Over the last few months, you’ve read about why preparing a care plan is important and the potential costs of funding care later in life. Now, read on to find out how you can make your wishes known.
1. Plan a meeting with your loved ones to discuss your care wishes
For many people, communicating your wishes will start with talking to your loved ones.
While this might seem simple, it can be a difficult and emotional conversation for both parties. Letting your loved ones know what you wish to talk about beforehand may allow them some time to prepare so you’re able to have a productive discussion.
Be clear about your wishes and communicate what you’d like to happen in different scenarios.
A meeting with loved ones is particularly important if you intend to rely on them to provide some level of care or name them in a Lasting Power of Attorney (LPA), which would give them the ability to make decisions on your behalf if you lose mental capacity.
2. Document your wishes in writing
Even after you’ve had a conversation with loved ones, documenting your wishes in writing is still useful.
Your family might refer back to it if they need to make decisions on your behalf. It may also resolve disputes if loved ones hold different opinions.
Make sure the document is regularly reviewed and updated if your wishes change, and is easy to access. You might also choose to provide a copy to a professional, such as your solicitor.
3. Name a Lasting Power of Attorney
As mentioned above, an LPA would give someone you trust the ability to make decisions on your behalf if you lose mental capacity. You can appoint more than one person.
There are two types of LPA.
When planning for care, it’s the health and welfare LPA that’s important. This would cover decisions about things like your daily routine, medical care, moving into a care home, and receiving life-sustaining treatment.
The second type of LPA covers property and financial affairs.
You can name the same person on both types of LPA if you choose.
Crucially, you must make an LPA while you have mental capacity. So, if you haven’t already completed the appropriate forms, you may want to make it a priority.
4. Make an advance decision for medical treatment
If you have strong views on medical treatment, you can make an advance decision to refuse treatment (ADRT). This would let your healthcare team know your wishes if you’re unable to communicate.
The treatments you’re deciding to refuse must all be named in the advance decision.
If you’d want to refuse treatment in some situations but not others, it’s important to be clear about the circumstances that you wouldn’t want treatment to go ahead.
An ADRT is legally binding so long as it complies with the Mental Capacity Act, is valid, and applies to the situation. You might choose to speak to your GP or other medical professional to understand the potential treatments and whether refusing them would be right for you.
5. Ensure your care fund is known and accessible
As part of your care plan, you might set aside cash or other assets to fund future care.
Make sure your attorneys or other decision makers know about this fund and can access it. For example, by naming them as your property and financial affairs LPA. Otherwise, there may be delays or uncertainty about affordability could prevent your wishes from being carried out.
Contact us to talk about your care plan
If you’d like to make potential care costs part of your long-term financial plan, please get in touch. It could offer you peace of mind that should you need care in the future, your wishes will be followed.
Please note: This blog is for general information only and does not constitute financial advice, which should be based on your individual circumstances. The information is aimed at retail clients only.
The Financial Conduct Authority does not regulate Lasting Powers of Attorney.
