The most frequently heard opposition to making a Will is “I don’t care what happens- I’ll be dead” and whilst this may be true in part, those of you that care about the people that you’ll be leaving behind probably do want to ensure that rather than leaving a mess to clear up when you’re gone that you instead leave a legacy that can be enjoyed in the least stressful way. The way to make this happen is to have a legally valid Will in place.
Writing a Will is something that you can do yourself, although as a professional I’m always going to advise against this and not just because it is how I make my living. By using a professional you are also providing your Estate with security. If I were to incorrectly draft your Will which causes a loss to your Estate then your Estate can bring a claim for damages. If you make a mistake within your DIY Will there is nowhere to go. Considering that the average house price in West Sussex is currently £400,065 (source Zoopla), spending £150 on ensuring that who you want to inherit it actually does seems like money well spent to me. Using tools such as a Life Interest Trust within your Will can add another layer of certainty for not a lot more.
Most people want peace of mind that should they lose capacity during their lifetime that those that they trust most will be legally able care for them without obstruction. Therefore, having both a Property and Finance and Health and Welfare Lasting Power of Attorney (LPA) in place is vital. There is a common misconception that if you are married that your spouse will automatically be able to make decisions for you, but this is not the case. To ensure that what matters to you in relation to care happens, including your wishes regarding life sustaining treatment you should have a H&W LPA in place. To be sure that your partner can access your money, liaise with any financial institution that holds assets in your name including communicating with banks, insurance companies, pension providers and other service providers you must make arranging a P&F LPA a priority.
For more information please contact me on 01903 821010 or via email emma.wells@nsure.co.uk
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