Assisted Dying

[watervole]

 Pleased to say that MP (Vikki Slade, Liberal) voted in favour of the bill, as she'd promised when I wrote to her about it.

 

(Our previous MP, Conservative, - but not necessarily representative of the rest of the party - did not always vote to match what his letters implied.)

 

My heath is fine at present (expect when I get sciatica or break something), but I'm terrified of dementia (the bill doesn't cover that, but hopefully it may one day extend to it, such that if wishes are expressed in a proper power of Attorney while a person is still of sound mind).

 

I wrote my POA several years ago, and made my wishes clear.  If I ever can't recognise my family, then that person is no longer a person I wish to be.  And I certainly don't want my family to live with that kind of pain or to spend their time caring (or paying for care for) someone who can't appreciate it.

I want my money to go to my grandchildren and not on end of life care for me.

Comments

Thoughts

[ysabetwordsmith]

>>Pleased to say that MP (Vikki Slade, Liberal) voted in favour of the bill, as she'd promised when I wrote to her about it.<<

Yay for integrity!

>>My heath is fine at present (expect when I get sciatica or break something), but I'm terrified of dementia (the bill doesn't cover that, but hopefully it may one day extend to it, such that if wishes are expressed in a proper power of Attorney while a person is still of sound mind).<<

Not to mention the risk of being tortured to extend an already miserable existence.

>>I want my money to go to my grandchildren and not on end of life care for me.<<

Well reasoned.

One approach to that is to keep an eye on your life trajectory. Most people don't, but it's doable. Except in cases where someone suddenly drops dead -- which avoids the circumstances concerning you -- there are usually "Your exit is approaching!" signs. Frex, breaking a hip is typically about a 1-year warning, with a range from about 6-18 months. Not a guarantee but a clue to start getting ready. And it's the last year that runs the highest expenses.

So if you want money to go to family instead of predators, start funneling it as soon as you start seeing the signs. Many places have limits on how much you can give, but it's usually focused on individuals so you can spread it around; and it often focuses on gifts rather than, say, buying a new car and selling it a few months later for a fraction of the cost. If you want to make an active plan to support your grandchildren, a financial advisor could tell you the rules in your locale and help you figure out a plan.

Re: Thoughts

[watervole]

Very wise advice. There is inheritance tax to avoid as well.

A couple of years ago, we made the decision to give our eldest the house we had bought for her to live in (she had paid for a quarter of it when it was purchaed, so we gave her the other 3/4). Three more years, and if we die, it will be totally free of inheritance tax.

Limits on gifts are pretty tight in the UK. You can only give away a couple of thousand to each individual per year in the five (I think) years before you die.

My mother-in-law, bless her, activated the financial POA she'd had for some time. In the week before she died - she was terminally ill, but still fully alert mentally - told us to give away as much as we were allowed to from her estate to family. So we did that.

Life expectancy looking pretty good at present, but there may come a time when we need to look into trust funds.