DementiaRoadmap Wales

Promoting living well with dementia across Wales
Planning for the future → Financial and legal planning

Financial and legal planning

If a person has dementia, it is important that they organise their financial and legal affairs while they are still able to do so. This ensures that in the future, their affairs will be set up in a way that they have chosen. Things to think about include: details of your bank accounts, tax, benefits and pension, as well as mortgage or rent documents, insurance policies and your will.

Lasting Power of Attorney has replaced Enduring Power of attorney in England and Wales. However, the latter can still be used if they were made and signed before October 2007.

Lasting Power of Attorney is a legal arrangement that lets an individual appoint a person/s to make decisions on their behalf.

There are 2 types:

  • Health and Welfare: This can only be used when the individual is unable to make decisions

  • Property and Finances: This be can be effective as soon as registered

To make a Lasting Power of Attorney an individual must be over 18 and have mental capacity. For individuals unable to make decisions a Court Appointed Deputy can be arranged.

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  • Mental Capacity Act Code of PracticeNovember 21 2014This guidance published by the Office of the Public Guardian explains to people working with or caring for adults who lack capacity to make decisions for themselves the legal responsibilities that must be considered under the Mental Capacity Act 2005.
  • Mental Health Act 1983: Code of PracticeJanuary 16 2015The revised code of practice shows professionals how to carry out their roles and responsibilities under the Mental Health Act 1983, to ensure that all patients receive high quality and safe care.
  • Making decisions: who decides when you can’t?April 20 2009This guidance published by the Office of the Public Guardian explains how the Mental Capacity Act 2005 affects anyone who is unable to make some or all decisions for themselves. It provides advice to help people to plan ahead in case they are unable to make and understand decisions in the future.
  • Making decisions: a guide for people who work in health and social careApril 1 2009This guidance published by the Office of the Public Guardian explains to health and social care workers how the Mental Capacity Act 2005 affects anyone who is unable to make some or all decisions for themselves.
  • Dewis CymruApril 27 2018Dewis Cymru is a website that provides information and advice about well-being. In addition to health information, Dewis Cymru provides information about people and services in your area that can help you with the things that matter to you.
  • The Care Bill: factsheetsJanuary 10 2014These factsheets will help practitioners to better support patients and carers to get the care and support they need, following the changes introduced by the Care Bill, published in 2013.
  • Lasting Power of AttorneyMarch 28 2019After a diagnosis of Dementia, it is worth forward planning including setting up Lasting Power of Attorney for both health and financial affairs. 
  • Advance Care PlanningIf you were to lose the capacity to make decisions about your life today, what are the important things you would like those caring for you to know about you and what you would want to happen? One way of making people aware of your wishes is by a process that is called advance care planning.
  • Living with early-stage dementiaNovember 20 2019Living with early-stage dementia is a comprehensive guide published by Age UK, also known as Age Cymru in Wales.

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