As much as we might try to plan ahead, it is impossible to predict every curveball that life might throw our way. Many people put off making a Will or Lasting Powers of Attorney, hoping that they will have plenty of time to take those steps in the future. However, when life changes suddenly and unpredictably, knowing that your affairs are already in order can be a huge relief.
Steps to consider when reviewing your affairs from a legal perspective include:
- Making a valid Will which clearly states who should manage your estate when you die and who should benefit from your assets. A carefully drafted Will can avoid disputes after you die, save inheritance tax and protect vulnerable or young beneficiaries.
- Making Lasting Powers of Attorney for property and financial affairs and health and welfare. If you become unable to make decisions for yourself, these documents allow the people you have chosen in advance to manage your affairs and make choices on your behalf about what medical treatment you should or should not receive (including life sustaining treatment). Without these documents it can be necessary for the Court to become involved in decisions made about your finances and welfare.
- Checking that if you co-own a property you have clearly identified what share each co-owner is entitled to and that the property is held in the correct manner so that it passes in accordance with your wishes if you die.
It does not have to be time consuming or complicated to address the above points.
At Neale Turk LLP we offer a friendly, expert service to guide you through the above steps and to help you ensure that your affairs have been properly and carefully arranged.
We also prepare Wills and Lasting Powers of Attorney for fixed fees (details of which are published on our website) so you can be confident of the costs involved from the outset.
If you have any questions on Wills, Lasting Powers of Attorney or arrangements regarding the ownership of property, please contact us for assistance.