Posted by Joseph Clift
Less than half of people aged between 35 and 64 have discussed what would happen to an elderly relative if they were to develop dementia, a pensions advisor has claimed.
According to Equity Release Solicitors Alliance (ERSA), nearly 80 per cent of those quizzed said they would look for a way to help a loved one if they were to become mentally unstable.
The organisation suggested that one way of solving any financial worries created by an illness would be to unlock funds from a property using equity release.
Peter Barton, spokesman for ERSA, said: "For homeowners who have not yet made provisions for the future but want to ensure their finances are safe, it is best to appoint someone you trust as an attorney while you are still in good health.
"Older homeowners may want to consider various financial options including having the money set aside to remain in their home, or paying for care fees should they wish to move into alternative accommodation."
The Dementia UK report from 2007 forecast that more than one million people will be suffering from dementia by 2015. 
