Now is the right time to put your affairs in order….
There is an increased need to ensure that whatever our finances, we make the most of what we have and take appropriate steps to safeguard this for ourselves and our families. Who knows what is around the corner?
Of course there are some people who genuinely do not care what happens to their hard earned savings when they die. However, the majority would like to pass some of this on to their friends, family or chosen charities or a mix of all of these. In that case, signing a will and keeping it up to date is a high priority.
The Intestacy Rules will apply where someone does not have a will in place when they die, but their application can have surprising results, depending on who is left and how assets eg the home are owned. In particular for unmarried couples, even where there are children, a partner will not inherit anything if their partner has not made a will. There has been some comment about the law changing in this respect but this is very much for discussion only at this stage. The value of a person’s estate often bears no relation to the time required to sort everything out when someone dies intestate (dies without a valid will.)
Doing nothing rather leaves everything to chance! Consulting a solicitor experienced in private client work means that you can have a will drawn up which is tailor made to your circumstances as part of reviewing your affairs. He or she should also be able to advise you on a range of associated issues such as maximising the tax breaks available and also ensuring that there is someone in place to deal with your affairs if illness or accident strikes and you cannot look after things yourself.
By signing a Lasting Power of Attorney you can choose someone you trust to deal with this for you. You might need to have this in place at any age. Who would access your savings when you needed them if you were incapacitated through for example a stroke or a head injury? Next of kin have no legal authority. Every day there are items in the news reminding us that people are living longer but are not always in the best of health. The need for long term care is expected to escalate rapidly in the next ten years.
The time to deal with both your will and LPA is whilst you are well. By planning ahead you can have the peace of mind and satisfaction which comes from having done all you can to look after your loved ones and also to help them look after you.
For a limited period December 2009 and January 2010 Dellapina& Co Solicitors are offering readers of The Knutsford Times a substantial discount off usual charges. For further information contact Gill Shone at Dellapina & Co Solicitors on 01565 634 100 or email firstname.lastname@example.org
Dellapina & Co Solicitors Limited Caledonian House, Tatton Street, Knutsford, Cheshire, WA16 6AG Tel:01565 634 100 Web: www.dellapina.co.uk This firm is regulated by the Solicitors Regulation Authority *Not including court fees and subject to qualifying criteria