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The Philanthropist and co-founder of Microsoft has stated that he is to invest $100 million (in the region of £76 million) of his own money into research towards a cure for Alzheimer’s.
Bill Gates is to make an initial $50 million investment into Dementia Discovery Fund, which finances new treatments for the degenerative condition, together with a further investment of $50 million into start-up ventures working to develop new treatments.
Alzheimer’s is the most common form of dementia, which is the term for a group of degenerative disorders that trigger a gradual decline in the brain, affecting functions such as memory, language and judgment.
In the recent blog post by Mr Gates, he refers to his reasoning behind the investments as being due to his own family experiences together with his concern that, without “a breakthrough in Alzheimer’s”, the condition will not only have an increasing influence on the ageing population, but will cause strain on the world’s healthcare systems. Mr Gates stated “This is a frontier where we can dramatically improve human life. It’s a miracle that people are living so much longer, but longer life expectancies alone are not enough….People should be able to enjoy their later years – and we need a breakthrough in Alzheimer’s to fulfil that. I’m excited to join the fight and can’t wait to see what happens next.”
According to the Alzheimer’s Society, there are 850,000 people with dementia in the UK which is predicted to rise to over 1 million by 2025. It is therefore important that we make sure that we have our affairs in order sooner rather than later. Provided that an individual is over the age of 18 and has mental capacity, it is never too soon to write a Will or have a Lasting Power of Attorney put in place.
A Lasting Power of Attorney enables people to appoint those that they trust to manage their affairs and make decisions should they be unable to do so themselves. This may be due to losing mental capacity. There are two types of Lasting Powers of Attorney; one for property and financial affairs and one which deals with health and welfare.
If you would like to discuss putting your legal affairs in order, then please contact our highly experienced Private Client team today. It’s never too soon to protect yourself and your loved ones. Call us on 01484 821 500, text LAW to 67777 or email firstname.lastname@example.org.