Many members tell us it is beneficial to think about financial and legal affairs as soon as possible. Some people encounter difficulties in trying to make arrangements further down the line when it is less clear whether they have the mental capacity to do so (this refers to your ability to make your own decisions based on your understanding, communication and ability to remember the decision). Therefore, we would always recommend making arrangements before your mental capacity can be called into question. Organizing your financial and legal affairs also allows you to have peace of mind that all issues can be dealt with in the way you have chosen.
You may wish to consider the following issues:
- Arrange bills to be paid by direct debit and benefits to be paid directly into the bank accounts
- Consider joint bank accounts
- Seek advice from a lawyer or financial advisor if needed
- Make sure you are receiving all the benefits to which you are entitled
- Make a will
- Consider arranging a Power of Attorney