SINGAPORE, Dec 25 Talking about and planning for one’s end-of-life care can be difficult, especially when death is still very much a taboo topic among many people in an Asian society such as Singapore. For 28-year-old Jasmine Goh, who is young and in good health, she was made to think about.
Anna Davies: Power of attorney lessons from Kate Garraway s struggle
Power of attorney explained
Anna Davies: The Covid-19 pandemic has, unfortunately, highlighted the practical and emotional difficulties family members face when their loved ones have lost capacity to act for themselves, but there is no power of attorney in place.
Anna Davies
Anna Davies explains the intricacies and importance of power of attorney, something advisers may wish to pass on during client conversations.
Whilst many people appreciate the importance of having a will to deal with arrangements on death, the importance of having a power of attorney to deal with the position when a person loses capacity during their lifetime is often underestimated.
Lasting Power of Attorney applications drop 30% during pandemic
Not back to pre-pandemic levels
Rachael Griffin: While numbers still haven t returned to their previous levels, they are getting closer and it is encouraging to see that people are getting the much-appreciated peace of mind that having an LPA entails.
Lasting Power of Attorney (LPA) registrations fell significantly during the pandemic as lockdown measures made the process more onerous, according to official figures.
A freedom of information request to the Ministry of Justice, made by Quilter, showed a 30% dip in LPAs registered between April last year and February this year.
The advice and wealth management business said while numbers had improved, they had still not recovered to their pre-pandemic levels. With February this year 25% below February 2020.