Current figures show just fewer than one million LPAs have been taken out in England and Wales since 2012, although there are around 1.5 million people aged over 85 and around 5 million aged over 75.

Meanwhile, some 850,000 people in the UK have dementia, and the Alzheimer’s Society forecasts this will rise to more than one million in the next decade and to two million by 2051. A report just published by Alzheimer’s Research UK says that one in three people born this year could end up suffering dementia!

It’s estimated just 1% of the UK adult population currently have Lasting Power of Attorney (LPA) in place, which would allow appointed family members or friends to manage their finances should they become unwilling or unable to do so.