Our partners at Anthony Collins tell us of the importance of making arrangements when it comes to your finances
Research from Quilter, an investment platform and financial adviser, found that fewer than one in three (29 per cent) well-off baby boomers have registered a lasting power of attorney - meaning they have no arrangements put in place to look after their finances when they are unable to.
“We spend hundreds, if not thousands, of pounds insuring nearly all areas of our lives (house, car, income, even our mobile phones!) but there seems to be a reluctance to ‘insure’ against the possibility that at some point we may need someone to act on our behalf if we are unable to.”
Anthony Collins is a specialist law firm based in Birmingham and Manchester that offers legal services for businesses and individuals - dealing with cases like this regularly.
A recent blog written by Anthony Collins discusses the importance of having arrangements for your finances, and why baby boomers may be the most reluctant to do so. Read the full blog here