Helping You Manage Your Financial Affairs

If you wish, you can appoint an Attorney or Attorneys (who may be a relative, friend or professional person) to help you manage your financial affairs. Your Attorney or Attorneys can continue even if you become mentally incapable of continuing to manage your financial affairs. If you wish to do this, you should seek legal advice from a solicitor who specialises in Powers of Attorney or elderly client affairs.

Choosng a Solicitor

If you have an on-going medical condition or as you grow older, it may be a good idea to discuss issues such as making a will, planning your funeral, appointing Powers of Attorney, or paying for a place in a care home with a solicitor. This will help you to be aware of all your options, and to do what you can to safeguard your future and that of your loved ones.

The Solicitors’ Regulation Authority is a good starting point for finding a reputable and experienced solicitor – see Useful Contacts/Organisations section for details.

Funeral Plans

No one wants to think about how and when they will die, or what it will be like for our families without us. Although planning your funeral in advance may not be something you want to think about, there are many practical and emotional reasons why it should be a priority. Funerals are expensive occasions and require many decisions to ensure they run smoothly. Planning your funeral long in advance of it happening can give your friends and family peace of mind at a heart-breaking time.

Taking out a ‘pre-paid’ or ‘pre-payment’ funeral plan enables you to let your friends and family know what you want for your funeral. It also means that the costs are covered in advance, thereby saving your family from potential financial difficulty at an already stressful time.

Since July 2022, the Financial Conduct Authority has been regulating firms that provide and arrange prepaid funeral plans. This means that your money is safe with an authorised provider, you are protected by the Financial Services Compensation Scheme should your plan provider fail and if you have a complaint against a funeral plan provider or intermediary you can refer it to the Financial Ombudsman Service.