Lasting Powers of Attorney
Thinking and talking about what would happen if our faculties deserted us is uncomfortable. Yet you need to consider how much worse the situation would be if you became incapacitated through a stroke, accident, dementia (e.g. Alzheimer's) without sorting it first.
If someone has difficulties that mean that they can't make decisions for themselves anymore, they will need help managing their finances. A Lasting Power of Attorney (LPA) is a legal document where someone (while they still have mental capacity) nominates a trusted friend or relative to look after their affairs if they lose mental capacity, the key thing to remember is don't think that you suddenly give up control. You can chose whether the LPA can be used either before, or only when, you lose mental capacity.