Dementia and long term care
At Cotswold Independent Financial Services, we are increasingly working with families impacted by dementia and concerned about the financing of long term care and how that impacts their legacy. We have been working with their families around lasting powers of attorney as well will and estate planning.
According to the Alzheimer's Society, there are 850,000 people with dementia in the UK, with numbers set to rise to over 1 million by 2025. This will soar to 2 million by 2051. 225,000 will develop dementia this year, that's one every three minutes. 1 in 6 people over the age of 80 have dementia.
Dementia UK explains that dementia is an umbrella term for a range of progressive conditions that affect the brain. There are over 200 subtypes of dementia, but the five most common are: Alzheimer’s disease, vascular dementia, dementia with Lewy bodies, frontotemporal dementia and mixed dementia. Read more
If dementia is impacting your family and you are concerned about the practical implications in terms of funding support and estate planning around please do get in touch.